Accounting Policies of Times Green Energy (India) Ltd. Company

Mar 31, 2025

SIGNIFICANT ACCOUNTING POLICIES:

The accounts have been prepared primarily on the historical cost convention and in accordance
with the relevant provisions of the Companies Act, 2013 and the Accounting Standards notified
under the relevant provisions of the Companies Act, 2013. The significant accounting policies
followed by the company are stated below:

a) USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted accounting
principles requires the management to make estimates and assumptions that affect the
reported amounts of revenues and expenses during the reporting year.

Differences between actual and estimates are recognized in the periods in which the
results are known/materialized.

b) FIXED ASSETS

Fixed Assets are stated at their historical cost of acquisition or construction, less
accumulated depreciation/amortization and impairment loss. Costs include all costs
incurred to bring the assets to their working condition and location. Assets retired from
the active use and held for disposal are stated at lower of cost or net book value or net
realizable value.

c) DEPRECIATION ON FIXED ASSETS

The Depreciation has been restated and recalculated based on useful life of the assets as
prescribed in Schedule II to the Companies Act, 2013 on all the assets. The variation in
depreciation pertaining to earlier years amounting to Rs.3,58,589/- has been credited to
Reserves and Surplus.

d) REVENUE RECOGNITION

Revenue has been recognized on accrual basis. The company presents revenues net of
indirect taxes in its statement of profit and loss.

e) INVENTORIES

Inventories are valued at lower of cost or net realizable value. Cost of inventories includes
all costs of purchases and other costs incurred bringing the inventories to their present
location and condition. Costs of inventories are determined under FIFO basis.

f) EMPLOYEE BENEFITS

Employee benefit in the form of provident fund is a defined benefit scheme and the
contributions are charged to the statement of profit and loss in the year when employee
renders the related service. There are not other obligations other than the contribution
payable to the respective authorities.

g) TAXES ON INCOME

Deferred tax is recognized on timing difference being the difference between taxable
income and accounting income that originates in one period and is capable of reversal in
one or more subsequent periods. Where there is unabsorbed depreciation, or carry

Forward losses, deferred tax assets are recognized only if there is virtual certainty of
realization of such assets.

h) EARNINGS PER SHARE

The company reports basic and diluted earnings per share in accordance with AS 20 on
"Earnings per share". Basic earnings per share are computed by dividing the net profit or
loss for the year by the weighted average number of equity shares outstanding during the
year. Diluted earnings per share is computed by dividing the net profit or loss for the year
by the weighted average number of equity shares outstanding during the year as adjusted
for the effect of all dilutive preferential equity instruments , except where results are anti¬
dilutive.

i) CASH FLOW STATEMENT

The cash flow statement is prepared under indirect method set out in AS 3 on "Cash flow
Statement" and presents cash flows by operation, investing and financing activities of the
company.

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Mar 31, 2024

2. Significant Accounting Policies

a. Basis of preparation

These financial statements have been prepared in accordance with the Generally Accepted Accounting
Principles ins India (''Indian GAAP'') to comply with the Accounting Standards specified under Section 133 of
the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant
provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost
convention on accrual basis.

b. Use of Estimates

The preparation of financial statements requires the management of the Company to make estimates and
assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent
liabilities as at the date of the financial statements and reported amounts of income and expense during the
year. Examples of such estimates include provisions for doubtful receivables, employee benefits, provision for
income taxes, accounting for contract costs expected to be incurred, the useful lives of depreciable fixed assets
and provisions for impairment. Future results could differ due to changes in these estimates and the difference
between the actual result and the estimates are recognised in the period in which the results are known /
materialize.

c. Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation / amortization. Costs include all expenses
incurred to bring the asset to its present location and condition.

d. Depreciation

In respect of fixed assets (other than freehold land and capital work-in-progress) acquired during the year,
depreciation is charged on SLM method as per the useful life of the assets prescribed under schedule II of the
companies Act, 2013 and/or estimated by management keeping in mind relevant factors for the same.

e. Inventories

Inventories are valued at cost or net realizable value whichever is lower.

Cost of inventories comprises all cost of purchase and other costs incurred in bringing the inventories to their
present location and condition.

f. Revenue Recognition

Revenue is recognized in accordance with Accounting Standard 9 notified under Section 133 of the Companies
Act, 2013, read with rule 7of the Companies (Accounts) Rules 2014.

g. Taxation & Deferred Tax

Income tax has been provided based on current income tax rate on taxable income. Advance tax & TDS
deducted will be set off against provisions for taxation at the time of finalisation of Income tax assessment
proceedings. The deferred tax asset is recognized and carried forward only to the extent that there is a virtual
certainty that the asset will be realised in future.

h. Foreign Exchange Transaction

There are no transactions of sales, Purchase or borrowing or any other receipt and expenditures in foreign
currency. There is no foreign exchange asset or liabilities as on year end.

I. Cash and Cash equivalents

The Company considers cash balance, current & saving account balance & fixed deposit bank balance as cash
& cash equivalents.

micro, Small & M all & M all & Medium Enterprises

There are no dues as required to be disclosed U/S 22 of the Micro, Small & Medium Enterprises Development
Act, 2006.

k. Leases

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased
item is classified as Operating Leases. Operating Lease Payments are recognized as an expense in the Profit
& Loss account on a straight li t line basis over the lease term.

l. Employee Benefits

All employee benefits due wholly within a year of rendering services are classified as short-term benefits.
These benefits like salaries, wages, short term compensation absences, expected cost of bonus, ex-gratia are
recognized as expenses on accrual basis of undiscounted amounts in the Profit and Loss Account.

m. Earnings Per Share

Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share is computed by dividing the profit after
tax by the weighted average number of equity shares considered for deriving basic earnings per share and
the weighted average number of equity shares that could have been issued upon conversion of all dilutive
potential equity shares.

The number of shares and potentially dilutive equity shares are adjusted retrospectively for all periods
presented for any share splits and bonus shares issues including for changes effected prior to the approval of
the financial statements by the Board of Directors.