SIGNIFICANT DEVELOPMENTS AFTER JUNE 30, 2021 THAT MAY AFFECT OUR FUTURE
RESULTS OF OPERATIONS

Except as disclosed in this Prospectus, there have been no significant developments after June 30, 2021 that may
affect our future results of operations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue recognition

Revenue from contract with customer is recognised, when control of the goods or services are transferred to the
customer, at an amount that reflects the consideration to which the Company is expected to be entitled in exchange
for those goods or services. The specific recognition criteria described below must also be met before revenue is
recognised. Revenue is recognised as follows:

Sale of goods
Revenue from contracts with customers

Revenue from contracts with customers is recognised upon transfer of control of promised goods/ services to
customers at an amount that reflects the consideration to which the Company expect to be entitled for those goods/
services.

To recognize revenues, the Company applies the following five-step approach:
* Identify the contract with a customer;
* Identify the performance obligations in the contract;
* Determine the transaction price;
* — Allocate the transaction price to the performance obligations in the contract; and
* Recognise revenues when a performance obligation is satisfied.

Revenue from sale of products

Revenue is measured at the fair value of the consideration received or receivable net of returns and allowances,
trade discounts and volume rebates, taking into account contractually defined terms of payment excluding taxes
or duties collected on behalf of the government.

Goods and Service Tax (GST) is not received by the Company in its own account. Rather, it is tax collected on
value added to the commodity by the seller on behalf of the government. Accordingly, it is excluded from revenue.

Refund liabilities

A refund liability is the obligation to refund part or all of the consideration received (or receivable) from the
customer. The Company has therefore recognised refund liabilities in respect of customer’s right to return, The
liability is measured at the amount the Company ultimately expects it will have to return to the customer. The
Company updates its estimate of refund liabilities (and the corresponding change in the transaction price) at the
end of each reporting period.

The Company has presented its right to return assets and refund liabilities as required under Ind AS 115 in the
financial statements.

Income from gift voucher

Gift voucher sales are recognised when the vouchers are redeemed, and the goods are sold to the customer.
Dividend and Interest Income

Dividend income from investments is recognised when the Company’s right to receive payment has been
established. Realised Gain from Redemption of Growth oriented mutual fund schemes are recognised in Profit

and Loss Account upon receipt of redemption proceeds, and unrealised gain on Mark to Market re-statement of
Mutual Funds are measured at Fair Value through Profit and Loss Account as on the Balance Sheet closing date.

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