Trade receivables

Trade receivables are initially recognized at fair value. Subsequently, these assets are held at amortized cost,
using the EIR method. The EIR is the rate that discounts estimated future cash income through the expected life
of financial instrument. Trade receivables are tested for impairment on a specific basis after considering the
sanctioned credit limits, prior experience, customer profile and expectations about future cash flows.

Derecognition

We derecognize a financial asset when the contractual rights to the cash flows from the financial asset expire, or
it transfers the contractual rights to receive the cash flows from the asset.

Impairment of financial asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financial
assets in the FVTPL category.

When determining whether the credit risk of a financial asset has increased significantly since initial recognition
and when estimating expected credit losses, we consider reasonable and supportable information that is relevant
and available without undue cost or effort. This includes both quantitative and qualitative information and
analysis, based on our historical experience and informed credit assessment and including forward looking
information.

For trade receivables, we apply a simplified approach. We recognize impairment loss allowance based on
lifetime expected credit losses at each reporting date, right from its initial recognition. Trade receivables are
tested for impairment on a specific basis after considering the sanctioned credit limits and expectations about
future cash flows.

The impairment losses and reversals are recognized in Restated Consolidated Statement of Profit and Loss.
Financial liabilities

Initial recognition and measurement

A financial liability is recognized when we become a party to the contractual provisions of the instrument.
Financial liabilities are initially measured at fair value less any directly attributable transaction costs unless at
initial recognition, they are classified as FVTPL. A financial liability is classified as at FVTPL if it is held for
trading, or it is a derivative or it is designated as such on initial recognition.

Subsequent measurement

Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest
expense, are recognized in Restated Consolidated Statement of Profit and Loss. Other financial liabilities are
subsequently measured at amortized cost using EIR. Interest expense and foreign exchange gains and losses are
recognized in the Restated Consolidated Statement of Profit and Loss.

Derecognition

A financial liability is derecognized when the obligation specified in the contract is discharged, cancelled or
expires.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the Restated Consolidated
Statement of Assets and Liabilities if there is a currently enforceable legal right to offset the recognized amounts
and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

Derivative financial instruments

We hold derivative financial instruments (forward contracts) to hedge our foreign currency exposures.

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