Accounting Policies of Sharanam Infraproject and Trading Ltd. Company

Mar 31, 2024

• Significant Accounting Policies:

1. Basis of Accounting

The Financial Statements have been prepared on the historical cost basis

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 II of Schedule III
to the Companies Act, 2013, (Ind AS Compliant Schedule III) as amended from time to time.

The Company’s Financial Statements are presented in Indian Rupees (C), which is also its functional
currency and all values are rounded to the nearest lakhs, except when otherwise indicated.

2. Fixed Assets

Property, Plant and Equipment are stated at cost, net of recoverable taxes, trade discount and rebates less
accumulated depreciation and impairment losses, if any. Such cost includes purchase price, borrowing cost
and any cost directly attributable to bringing the 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 the Company has availed fair value as deemed cost on the date of transition to Ind
AS.

3. Depreciation

Depreciation on Fixed Assets has been provided as per Written Down Value Method as per the Useful Life
prescribed under Schedule II of the Companies Act, 2013.

4. Revaluation of Fixed Assets

No Revaluation of Fixed Assets has been done the financial Year.

5. Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence, if
any, except in case of by-products which 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 location and condition