Investment

Long-term investments (excluding investment properties), are carried individually at cost less provision for
diminution, other than temporary, in the value of such investments.

Current investments are carried individually, at fair value. Cost of investments include acquisition charges such
as brokerage, fees and duties.

During the year ended March 31, 2019, the Wholly Owned Subsidiary filed an application with Jebal Ali Free
Zone (‘JAFZA’) for removal/striking off its name from the records of the JAFZA. Accordingly, the JAFZA skirted
off the name of the Wholly Owned Subsidiary as on 04.02.2019 and liquidated its assets and liabilities.

Financial Instruments

Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions
of the instrument.

Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through statement of profit and loss) are added to or deducted from the fair value measured
on initial recognition of financial asset or financial liability.

Financial assets
Cash and cash equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an
original maturity of three months or less from the date of acquisition), highly liquid investments that are readily
convertible into known amounts of cash and which are subject to insignificant risk of changes in value.
Financial assets at amortized cost

Financial assets are subsequently measured at amortized cost if these financial assets are held within a business
whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.

Financial assets at fair value through other comprehensive income (FVTOCI)

Financial assets are measured at fair value through other comprehensive income if these financial assets are held
within a business whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset gives rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding.

Financial assets at fair value through profit and loss (FVTPL)
Financial assets are measured at fair value through profit and loss unless it is measured at amortized cost or at fair
value through other comprehensive income on initial recognition. The transaction costs directly attributable to the

acquisition of financial assets and liabilities at fair value through profit and loss are immediately recognized in
statement of profit and loss.

Foreign exchange gains and losses

The fair value of foreign assets denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of each reporting period. For the foreign currency denominated financial assets
measured at amortized cost and FVTPL, the exchange differences are recognized in statement of profit and loss.
Financial Liabilities and Equity

Financial liabili

 

S at amortized cost

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