Accounting Policies of Medico Intercontinental Ltd. Company

Mar 31, 2025

1.02 Statement of Compliance

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards
(IND AS) as per the Companies (Indian Accounting Standards) Rules, 2015 as amended and notified under
Section 133 of the Companies Act, 2013 (“the Act”) and other relevant provisions of the Act. The financial
statements have been statements are consistent with those followed in the previous year.

1.03 Basis of preparation and presentation

The financial statements have been prepared on the historical cost basis except for certain financial instruments
that are measured at fair values at the end of each reporting period.

1.04 Use of estimates

The preparation of the financial statements in conformity with IND AS requires management to make judgments,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. Actual results may differ from those estimates. The Management believes
that the estimates used in preparation of the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the actual results and the estimates are
recognized in the periods in which the results are known / materialize.

1.05 Current versus Non-Current classification

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

- expected to be realized or intended to be sold or consumed in normal operating cycle,

- held primarily for the purpose of trading,

- expected to be realized 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 month after the reporting period.

All other assets are classified as non-current.

A liability is current when it is:

- expected to be settled in normal operating cycle,

- held primarily for the purpose of trading,

- dues to be settled within twelve months after the reporting period, or

- there is no unconditional right to defer the settlement of liability for atleast twelve months after the

reporting period.

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classifies as non-current assets and liabilities.

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

1.06 Property, plant and equipment and other intangible assets

Recognition and measurement:

Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated
impairment losses, if any.

Cost of an item of property, plant and equipment comprises its purchase price, including import duties and
non-refundable purchase taxes, after deducting trade discounts and rebates, any directly attributable cost of
bringing the item to its working condition for its intended use and estimated costs of dismantling and removing
the item and restoring the site on which it is located.

The residual value, useful live and method of depreciation of Property, Plant and Equipment are reviewed at
each financial year end and adjusted prospectively, if appropriate.

Any gain or loss on disposal of an item of property, plant and equipment is recognized in statement of profit
or loss.

Depreciation and amortization:

Depreciation, on fixed assets, based on useful life of the assets as prescribed in Schedule II to the Companies
Act, 2013, on Written Down Value (WDV) method. Depreciation on additions during the year is provided on
prorata time basis.

1.07 Inventories

Inventories are valued at the lower of cost and the net realizable value after providing for obsolescence and
other losses, where considered necessary. Cost of inventory includes cost of purchase and other costs incurred
in bringing the inventories to their present location and condition, valued and verified by the managements
at regular interval.

1.08 Cash and cash equivalents (for purposes of Cash Flow Statement)

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.

1.09 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax
is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future
cash receipts or payments. The cash flows from operating, investing and financing activities of the Company
are segregated based on the available information.

1.10 Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue
are net of returns, trade allowances, rebates, GST and amounts collected on behalf of third parties.

Sale of products

Timing of recognition- Revenue from sale of products is recognized when control of the products is transferred
to customers based on the terms of sale.

Measurement of revenue- Revenue from sales is based on the price specified in the sales contracts, net of
all expected discounts and returns in relation to sales made until the end of the reporting period.

No element of financing is deemed present as the sales are made with credit terms consistent with market
practices. A receivable is recognized when the goods are dispatched, delivered or upon formal customer
acceptance depending on terms of contract with the customer.

Dividend and interest income

Dividend income is recognised when the Company''s right to receive the payment is established, which is
generally when shareholders approve the dividend.

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow
to the Company and the amount of income can be measured reliably. Interest income is accrued on a time
basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate
that exactly discounts estimated future cash receipts through the expected life of the financial asset to that
asset''s net carrying amount on initial recognition.

Other income

Other incomes are accounted on accrual basis except specifically stated on cash basis.

1.11 Employee benefits
Defined benefit plan
Gratuity:

Gratuity liability is a defined benefit obligation and is computed on the basis of an actuarial valuation by an
actuary appointed for the purpose as per projected unit credit method at the end of each financial year. The
liability or asset recognized in the Standalone Balance Sheet in respect of defined benefit gratuity plan, is
the present value of the defined benefit obligation at the end of the reporting period less the fair value of
plan assets. The liability so provided is represented by creation of separate fund and is used to meet the
liability as and when it become due for payment in future. Any shortfall in the value of assets over the defined
benefit obligation is recognized as a liability with a corresponding charge to the Standalone Statement of Profit
and Loss.

The present value of the defined benefit obligation is determined by discounting the estimated future cash
outflows with reference to market yields at the end of the reporting period on government bonds that have
terms approximating to the terms of the related obligation.

The net interest cost is calculated by applying the discount rate at the beginning of the period to the net
balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee
benefit expense in the Standalone Statement of Profit and Loss.

Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions
are recognized in the period in which they occur directly in other comprehensive income. They are included
in retained earnings in the Statement of changes in equity and in the Standalone Balance Sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments
are recognized immediately in profit or loss as past service cost.

Defined contribution plan

Contributions to defined contribution schemes such as contribution to provident fund, superannuation fund,
employees'' state insurance corporation, national pe nsion scheme and labour welfare fund are charged as an
expense to Standalone Statement of Profit and Loss based on the amount of contribution required to be made
as and when services are rendered by the employees. The above benefits are classified as defined contribution
schemes as the Company has no further defined obligations beyond the monthly contributions.

Short-term employee benefits

All employee benefits payable within 12 months of service such as salaries, wages, bonus, ex-gratia, medical
benefits, etc, are recognized in the year in which the employees render the related service and are presented
as current employee benefit obligations. Termination benefits are recognized as an expense as and when incurred.

Short-term employee benefits are provided at undiscounted amount during the accounting period based on
service rendered by employees.

Other long-term employee benefits

The liabilities for earned leave is not expected to be settled wholly within 12 months after the end of the
period in which the employees render the related service. They are therefore measured as the present value
of expected future payments to be made in respect of services provided by employees up to the end of the
reporting period using the projected unit credit method. The benefits are discounted using the market yields
at the end of the reporting period that have terms approximating to the terms of the related obligation. Re¬
measurements as a result of experience adjustments and changes in actuarial assumptions are recognized
in profit or loss.

1.12 Borrowing costs

Borrowing costs include interest; amortization of ancillary costs incurred and exchange differences arising from
foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Costs
in connection with the borrowing of funds to the extent not directly related to the acquisition of qualifying
assets are charged to the Statement of Profit and Loss over the tenure of the loan. Borrowing costs, allocated
to and utilized for qualifying assets, pertaining to the period from commencement of activities relating to
construction / development of the qualifying asset upto the date of capitalization of such asset is added to
the cost of the assets. Capitalization of borrowing costs is suspended and charged to the Statement of Profit
and Loss during extended periods when active development activity on the qualifying assets is interrupted.

1.13 Earnings per Share

Basic earnings per share is computed by dividing the profit after tax (including the post tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year.

1.14 Taxes on income
Current tax:

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax''
as reported in the statement of profit and loss because of items of income or expense that are taxable or
deductible in other years and items that are never taxable or deductible. The Company''s current tax is calculated
using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax:

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred
tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally
recognized for all deductible temporary differences to the extent that it is probable that taxable profits will
be available against which those deductible temporary differences can be utilized. Such deferred tax assets
and liabilities are not recognized if the temporary difference arises from the initial recognition (other than in
a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor
the accounting profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to
the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of
the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period
in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and as sets reflects the tax consequences that would follow from
the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.

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Mar 31, 2024

Basis of preparation and Significant Accounting Policies

1.02 Statement of Compliance

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (IND AS) as per the Companies (Indian Accounting Standards) Rules, 2015 as amended and notified under Section 133 of the Companies Act, 2013 (“the Act”) and other relevant provisions of the Act. The financial statements have been statements are consistent with those followed in the previous year.

1.03 Basis of preparation and presentation

The financial statements have been prepared on the historical cost basis except for certain financial instruments that are measured at fair values at the end of each reporting period.

1.04 Use of estimates

The preparation of the financial statements in conformity with IND AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from those estimates. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize.

1.05 Current versus Non Current classification

The company presents assets and liabilities in th e balance sheet bases on current/non-current classification. An asset is treated as current when it:

- expected to be realized or intended to be sold or consumed in normal operating cycle,

- held primarily for the purpose of trading,

- expected to be realized 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 month after the reporting period.

All other assets are classified as non-current.

A liability is current when it is:

- expected to be settled in normal operating cycle,

- held primarily for the purpose of trading,

- dues to be settled within twelve months after the reporting period, or

- there is no unconditional right to defer the settlement of liability for atleast twelve months after the

reporting period.

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classifies as non-current assets and liabilities.

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

1.06 Property, plant and equipment and other intangible assets Recognition and measurement:

Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses, if any.

Cost of an item of property, plant and equipment comprises its purchase price, including import duties and

non-refundable purchase taxes, after deducting trade discounts and rebates, any directly attributable cost of bringing the item to its working condition for its intended use and estimated costs of dismantling and removing the item and restoring the site on which it is located.

The residual value, useful live and method of depreciation of Property, Plant and Equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

Any gain or loss on disposal of an item of property, plant and equipment is recognized in statement of profit or loss.

Depreciation and amortization:

Depreciation, on fixed assets, based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013, on Written Down Value (WDV) method. Depreciation on additions during the year is provided on prorata time basis.

1.07 Inventories

Inventories are valued at the lower of cost and the net realizable value after providing for obsolescence and other losses, where considered necessary. Cost of inventory includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition, valued and verified by the managements at regular interval.

1.08 Cash and cash equivalents (for purposes of Cash Flow Statement)

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.

1.09 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

1.10 Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are net of returns, trade allowances, rebates, GST and amounts collected on behalf of third parties.

Sale of products

Timing of recognition- Revenue from sale of products is recognized when control of the products is transferred to customers based on the terms of sale.

Measurement of revenue- Revenue from sales is based on the price specified in the sales contracts, net of all expected discounts and returns in relation to sales made until the end of the reporting period.

No element of financing is deemed present as the sales are made with credit terms consistent with market practices. A receivable is recognized when the goods are dispatched, delivered or upon formal customer acceptance depending on terms of contract with the customer.

Dividend and interest income

Dividend income is recognised when the Company''s right to receive the payment is established, which is generally when shareholders approve the dividend.

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset''s net carrying amount on initial recognition.

Other income

Other incomes are accounted on accrual basis except specifically stated on cash basis.

1.11 Employee benefits Defined benefit plan Gratuity:

Gratuity liability is a defined benefit obligation and is computed on the basis of an actuarial valuation by an

actuary appointed for the purpose as per projected unit credit method at the end of each financial year. The liability or asset recognized in the Standalone Balance Sheet in respect of defined benefit gratuity plan, is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The liability so provided is represented by creation of separate fund and is used to meet the liability as and when it become due for payment in future. Any shortfall in the value of assets over the defined benefit obligation is recognized as a liability with a corresponding charge to the Standalone Statement of Profit and Loss.

The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows with reference to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the related obligation.

The net interest cost is calculated by applying the discount rate at the beginning of the period to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in the Standalone Statement of Profit and Loss.

Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur directly in other comprehensive income. They are included in retained earnings in the Statement of changes in equity and in the Standalone Balance Sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service cost.

Defined contribution plan

Contributions to defined contribution schemes such as contribution to provident fund, superannuation fund, employees'' state insurance corporation, national pension scheme and labour welfare fund are charged as an expense to Standalone Statement of Profit and Loss based on the amount of contribution required to be made as and when services are rendered by the employees. The above benefits are classified as defined contribution schemes as the Company has no further defined obligations beyond the monthly contributions.

Short-term employee benefits

All employee benefits payable within 12 months of service such as salaries, wages, bonus, ex-gratia, medical benefits, etc, are recognized in the year in which th e employees render the related service and are presented as current employee benefit obligations. Termination benefits are recognized as an expense as and when incurred.

Short-term employee benefits are provided at undiscounted amount during the accounting period based on service rendered by employees.

Other long-term employee benefits

The liabilities for earned leave is not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end of the reporting period that have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognized in profit or loss.

1.12 Borrowing costs

Borrowing costs include interest; amortization of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of qualifying assets are charged to the Statement of Profit and Loss over the tenure of the loan. Borrowing costs, allocated to and utilized for qualifying assets, pertaining to the period from commencement of activities relating to construction / development of the qualifying asset upto the date of capitalization of such asset is added to the cost of the assets. Capitalization of borrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when active development activity on the qualifying assets is interrupted.

1.13 Earnings per Share

Basic earnings per share is computed by dividing the profit after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.

1.14 Taxes on income Current tax:

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax'' as reported in the statement of profit and loss because of items of income or expense that are taxable or

deductible in other years and items that are never taxable or deductible. The Company''s current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax:

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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Mar 31, 2018

1.1. SIGNIFICANT ACCOUNTING POLICIES

a) Use of estimates

The preparation of financial statements in conformity with the generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as the date of financial statements and the results of operations during the reporting period. Although these estimates are based upon management’s best knowledge of current events &and actions, actual results could differ from these estimates.

b) Income Taxes

The company follows Accounting Standard-22 Accounting for taxes on income, issued by ICAI. Deferred Tax expenses & credit & related liabilities or assets are recognized for future tax consequences attributable to the differences between accounting profit & taxable income. Deferred Tax Assets are only recognized if there is reasonable certainty that they will be realized, interims of para 15 read with para 17 of the said Accounting Standard. These assets are reviewed for appropriateness of their carrying value at each Balance Sheet date. Deferred Tax Assets & Liabilities are measured using the tax rates that have been enacted or substantively enacted at the Balance Sheet date.

c) Earnings Per Share (EPS)

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preferences dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to the equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

d) Cash and Cash Equivalents

Cash and cash equivalents for the purpose of financial statements comprise cash at bank and in hand and short -term investments.

e) Provisions

A provision is recognized when an enterprise has a present obligation as a result of past event: it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date .These are reviewed at each balance sheet date and are adjusted to reflect the current best estimates.

2. Disclosure pursuant to Ind AS 101 "First time Adoption of Indian Accounting Standard”

I) Transition to Ind AS

The Company has adopted Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs with effect from April 01, 2017, with a transition date of April 01,2016. These Financial Statements for the year ended March 31, 2018 are the first financial statements the Company has prepared under Ind AS. For all periods upto and including the year ended March 31, 2017 , the Company prepared its financial statements in accordance with the accounting standards notified under Section 133 of the Companies Act 2013, read together with the relevant Rules thereunder (''previous GAAP'')

The adoption of Ind AS has been carried out in accordance with Ind AS 101, First-time Adoption of Indian Accounting Standards. Ind AS 101 requires that all Ind AS Standards and interpretation that are issued and effective for the first Ind AS financial statements be applied retrospectively and consistently for all financial years presented. Accordingly, the Company has prepared financial statements which comply with Ind AS for year ended March 31, 2018, together with the comparative information as at and for the year ended March 31, 2017 and the opening Ind AS Balance Sheet as at April 01, 2016, the date of transition to Ind AS.

In Preparing these Ind AS financial statements, the Company has availed certain exemption and exceptions and exceptions in accordance with Ind AS 101, as explained below. The resulting difference between the carrying values of the assets and liabilities in the financial statements as at the transition date to Ind AS and Previous GAAP and have been recognised directly in equity (retained earnings or another appropriate category of equity). This note explains the adjustments made by the Company in restating its financial statements prepared under previous GAAP, including the Balance Sheet as at April 01, 2016 and the financial statements as at and for the year ended March 31, 2017.

II) Classification and measurement of financial assets

The Company has classified and measured financial assets on the basis of the facts and circumstances that exist at the date of transition to Ind AS

III) Disclosure required under Section 186(4) of Companies Act, 2013

Details of Investment made appear under the respective heads.

IV) Items and Figure for the previous year have been recast, regrouped and/or re-arranged wherever necessary to confirm to the current year''s presentation.