Crop Life Science Ltd. कंपली की लेखा नीति

Mar 31, 2025

4. Summary of significant accounting policies:

i) Use of estimates:

The preparation of these Ind AS Financial statements in conformity with the recognition and measurement principles of Ind
AS requires the management of the Company to make estimates, judgements and assumptions that affect the application of
accounting policies and the reported amounts ofassets and liabilities, the disclosures ofcontingent assets and liabilities at the
date of Ind AS Financial statements and reported amounts of revenues and expenses during the period. The estimates and
assumptions used in the accompanying Ind AS Financial statements are based upon management''s evaluation of relevant
facts and circumstances as at the date of the financial statements. Management believes that the estimates used in the
preparation of Ind AS Financial statements are prudent and reasonable. Actual results could differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in
the period in which the estimates are revised and future periods are affected.

Critical Accounting Estimates and Judgements used in application of Accounting Policies:

a. Income Taxes

Significant judgements are involved in determining the provision for Income Taxes, including amount expected to be paid /
recovered for uncertain tax positions.

b. Property, Plant and Equipment

Property, plant and equipment represent a significant proportion of the asset base of the Company. The charge in respect of
periodic depreciation is derived after determining an estimate of an asset''s expected useful life and the expected residual
value at the end of its life. The useful life and residual values ofthe Company''s assets are determined by the Management at
the time the asset is acquired and reviewed periodically, including at each financial year end. An item of property, plant &
Equipment is eliminated from the Ind AS Financial statements on disposal or when no further benefit is expected from its use
and disposal. Gains/ Losses arising from disposal are recognised in the Statement of Profit & Loss.

c. Impairment of Financial Assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The
Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation based on
empirical evidence available without under cost or effort, existing market conditions as well as forward looking estimates at
the end of each reporting period.

d. Defined Benefit Plan

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligations is
determined using actuarial valuation. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and
attrition rate. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

e. Fair Value Measurement of Financial Instruments

When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow
(DCF) model. The inputs to these models are taken from observable markets, where possible, but where this is not feasible, a
degree of judgement is required in establishing fair values. Judgements include consideration of inputs such as liquidity risk,
credit risk and volatility. Changes in assumptions about these factors could affect the reported fair values of financial
instruments.

f. Determination of lease term & discount rate:

Ind AS 116 Leases requires lessee to determine the lease term as the non-cancellable period of a lease adjusted with any
option to extend or terminate the lease, if the use of such option is reasonably certain. The Company makes assessment on
the expected lease term on lease by lease basis and thereby assesses whether it is reasonably certain that any options to
extend or terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any
significant leasehold improvements undertaken over the lease term, costs relating to the termination of lease and the
importance of the underlying to the Company''s operations taking into account the location of the underlying asset and the
availability of the suitable alternatives. The lease term in future periods is reassessed to ensure that the lease term reflects
the current economic circumstances. The discount rate is generally based on the incremental borrowing rate specific to the
lease being evaluated or for a portfolio of leases with similar characteristics.

g. Recognition and measurement of Contingent liabilities, provisions and uncertain tax positions:

There are various legal, direct and indirect tax matters and other obligations including local and state levies, availing input tax
credits etc., which may impact the Company. Evaluation of uncertain liabilities and contingent liabilities arising out of above
matters and recognition and measurement of other provisions are based on the assessment of the probability of an outflow
of resources, and on past experience and circumstances known at the balance sheet date. The actual outflow of resources at
a future date may therefore vary from the figure included in other provisions.

ii) Revenue recognition:

Under Ind AS 115 - Revenue from Contracts with Customers, revenue is recognised upon transfer of property of goods to the
buyer for price, or when all significant risk & rewards of ownership have been transferred to the buyer and no effective
control is retained by the company in respect of the goods transferred. Revenue is measured at the fair value of the
consideration received or receivable, excluding discounts, incentives, performance bonuses, price concessions, amounts
collected on behalf of third parties, or other similar items, if any, as specified in the contract with the customer. Revenue is
recorded provided the recovery of consideration is probable and determinable.

Sale of Products

Revenue from the sale of products is recognised at a point in time, upon transfer of control of products to the customers
which coincides with their delivery and is measured at transaction value of consideration received/receivable, net of
discounts, amount collected on behalf of third parties and applicable taxes.

Interest income

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.

iii) Property, Plant & Equipment:

Property, Plant & Equipment

Property, plant and equipment are tangible items that are held for use in the production or supply of goods and services,
rental to others or for administrative purposes and are expected to be used during more than one period. The cost of an item
of property, plant and equipment is recognised as an asset if and only, if it is probable that future economic benefits
associated with the item will flow to the Company and the cost of the item can be measured reliably. Freehold land is carried
at cost less accumulated impairment losses if any. All other items of property, plant and equipment are stated at cost less
accumulated depreciation and accumulated impairment losses. Cost of an item of property, plant and equipment comprises:

• Its purchase price, all costs including financial costs till commencement of commercial production are capitalized to the cost
of qualifying assets. GST/Tax credit, if any, are accounted for by reducing the cost of capital goods;

• Any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by management.

All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

Capital Work-in-progress

Capital work in progress is stated at cost, comprising direct cost, related incidental expenses and attributable borrowing cost
and net of accumulated impairment losses, if any. All the direct expenditure related to implementation including incidental
expenditure incurred during the period of implementation of a project, till it is commissioned, is accounted as Capital work in
progress (CWIP) and after commissioning the same is transferred / allocated to the respective item of property, plant and
equipment. Pre-operating costs, being indirect in nature, are expensed to the statement of profit and loss as and when
incurred.

Derecognition of Property, Plant and Equipment:

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic
benefits are expected from its use or disposal. The gain or loss from the derecognition of an item of property, plant and
equipment is recognised in the statement of profit and loss account when the item is derecognized.

v) Intangible Assets and Amortization:

Intangible assets purchased are measured at cost or fair value as on the date of acquisition, as applicable, less accumulated
amortisation and accumulated impairment, if any.

Intangible assets are amortised on a Written down value basis over their estimated useful lives, commencing from the date
the asset is available to the Company for its intended use.

Following initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment
losses, if any. Internally generated intangible assets, excluding capitalised development costs, are not capitalised and
expenditure is reflected in the Statement of Profit and Loss in the year in which the expenditure is incurred.

The estimated useful life of the intangible assets and the amortisation period are reviewed at the end of each financial year
and the amortisation period is revised to reflect the changed pattern, if any

vi) Impairment of Property, Plant & Equipment and intangible assets :

At the end of each reporting period, the Company reviews the carrying amounts of its Property, Plant & Equipment and
intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if
any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the
recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of
allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are
allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be
identified.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least
annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments
of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been
adjusted.

Carrying amount equals to cost less accumulated depreciation and accumulated impairment losses recognised previously.

vii) Borrowing Costs:

Interest and other costs that the Company incurs in connection with the borrowing of funds are identified as borrowing costs.
The Company capitalises borrowing costs that are directly attributable to the acquisition, construction or production of a
qualifying asset as part of the cost of that asset. Other borrowing costs are recognised as an expense in the period in which it
is incurred. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use.
The Company identifies the borrowings into specific borrowings and general borrowings. Specific borrowings are borrowings
that are specifically taken for the purpose of obtaining a qualifying asset. General borrowings include all other borrowings
except the amount outstanding as on the balance sheet date of specific borrowings for assets that are not yet ready for use.
Borrowing cost incurred actually on specific borrowings are capitalised to the cost of the qualifying asset. For general
borrowings, the Company determines the amount of borrowing costs eligible for capitalisation by applying a capitalisation
rate to the expenditures on the qualifying asset based on the weighted average of the borrowing costs applicable to general
borrowings. The capitalisation on borrowing costs commences when the Company incurs expenditure for the asset, incurs
borrowing cost and undertakes activities that are necessary to prepare the asset for its intended use or sale. The
capitalisation of borrowing costs is suspended during extended periods in which active development of a qualifying asset is
suspended. The capitalisation of borrowing costs ceases when substantially all the activities necessary to prepare the
qualifying asset for its intended use or sale are complete.

viii) Inventories:

Raw Materials, Packing Materials, Stores and Spares

Raw Materials, Packing Materials, Stores & Spares and consumables are valued at lower of cost (net of refundable taxes and
duties) and net realisable value. Inventories are not written down below cost if the related finished products are expected to
be sold at or above cost. Cost is determined on First-In-First-Out basis and includes all cost incurred in bringing the inventories
to their present location and condition.

Finished Goods and Work-in-progress

Work-in-progress and finished goods are valued at lower of cost and net realisable value. Cost includes direct material and
labour and a proportion of manufacturing overheads based on normal operating capacity. Cost in respect of Finished Goods
and Work-In-progress are computed on Weighted Average Basis Method. Net Realizable Value is the estimated selling price in
the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale. Obsolete,
slow moving and defective inventories are identified and provision made wherever necessary.

Stock in Trade

Stock in Trade is valued at lower of cost and net realisable value. Cost is determined on FIFO basis.

ix) Leases:

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the
right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a Lessee:

The Company applies a single recognition and measurement approach for all leases. The Company recognises lease liabilities
to make lease payments and right-of-use assets representing the right to use the underlying assets.

(A) Right-of-use Assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or
the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The
right-of-use assets are also subject to impairment.

(B) Lease Liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option
reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term
reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate
are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition
that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement
date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a
change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine
such lease payments) or a change in the assessment of an option to purchase the underlying asset.

The Company''s lease liabilities are included in Other non-current financial liabilities.

(C) Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and lease liabilities for short term lease that have a lease term
of 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases
on straight line basis as per the terms of the lease.

x) Government Grants and Subsidies:

Government grants are recognised when there is reasonable assurance that the Company will comply with the conditions
attaching to them and that the grants will be received.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the Company recognises as
expenses the related costs for which the grants are intended to compensate.

Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving
immediate financial support to the Company with no future related costs are recognised in profit or loss in the period in
which they become receivable.

The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the
difference between proceeds received and the fair value of the loan based on prevailing market interest rates.

xi) Financial Instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are measured at
transaction price. 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 profit or loss) are added to or deducted from
the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised
immediately in Statement of Profit and Loss.

The financial assets comprise of trade receivables, cash and cash equivalents, other bank balances and deposits, interest
accrued, security deposits, intercorporate deposits, contract assets and other receivables.

These assets are measured subsequently at amortised cost.

The financial liabilities comprise of borrowings, lease liabilities, retention and capital creditors, interest accrued, deposit from
customers, trade and other payables.

Financial assets and financial liabilities are offset when the Company has a legally enforceable right (not contingent on future
events) to off-set the recognised amounts either to settle on a net basis, or to realise the assets and settle the liabilities
simultaneously.

Financial Assets

a. Initial recognition and measurement

At initial recognition, the Company measures a financial asset (which are not measured at fair value) through profit or loss at
its fair value plus or minus transaction costs that are directly attributable to the acquisition or issue of the financial asset.

b. Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

i) Financial assets measured at amortised cost;

ii) Financial assets at fair value through profit or loss (FVTPL) and

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

The Company classifies its financial assets in the above mentioned categories based on:

a) The Company''s business model for managing the financial assets, and

b) The contractual cash flows characteristics of the financial asset.

i) Financial assets measured at amortised cost :

A financial asset is measured at amortised cost if both of the following conditions are met:

a) A financial asset is measured at amortised cost if the financial asset is held within a business model whose objective is to
hold financial assets in order to collect contractual cash flows and the Contractual terms of the financial assets give rise on
specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

b) Financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost
is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part ofthe
EIR. The EIR amortisation is included in finance income in the profit or loss. The losses arising from impairment are recognised
in the profit or loss.

ii) Financial assets at fair value through profit or loss (FVTPL):

Financial assets are measured at fair value through profit and loss unless it is measured at amortised 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 or loss are immediately recognized in profit or loss.

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

A financial asset is measured at fair value through profit or loss unless it is measured at amortised cost or fair value through
other comprehensive income. In addition, The Company may elect to designate a financial asset, which otherwise meets
amortised cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as ''accounting mismatch'')

Trade receivables, Advances, Security Deposits, Cash and Cash Equivalents etc. are classified for measurement at amortised
cost.

The Company applies expected credit losses (ECL) model for measurement and recognition of loss allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables and lease receivables),

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

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured
and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on
its portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk
of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal
to 12-month ECL is measured and recognized as loss allowance. However, ifcredit risk has increased significantly, an amount
equal to lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit
risk since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECLare the expected credit losses resulting from all possible default events overthe expected life ofa financial asset.
12-month ECLare a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date.

ECLimpairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the Statement
of Profit and Loss under the head ''Other expenses''.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.

c. Impairment

The company assesses at the end of each reporting period whether a financial assets or group of financial assets is impaired.
In accordance of Ind AS 109, the Company applies expected credit losses (ECL) model for measurement and recognition of
loss allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables and lease receivables),

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

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured
and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on
its portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk
of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal
to 12-month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an amount
equal to lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit
risk since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECLare the expected credit losses resulting from all possible default events overthe expected life ofa financial asset.
12-month ECLare a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date. ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in
the Statement of Profit and Loss under the head ''Other expenses''.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.

Investments in equity instruments of subsidiaries, joint ventures and associates

Investments in equity instruments of subsidiaries, joint ventures and associates are accounted for at cost in accordance with
Ind AS 27 ''Separate Financial Statements''

Financial Liabilities

a. Initial recognition and measurement

All financial liabilities are recognised initially at fair value and subsequently carried at amortised cost using the effective
interest method.

The company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.

b. Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

i) Financial liabilities measured at amortised cost.

ii) Financial liabilities at fair value through profit or loss.

i) Financial liabilities measured at amortised cost :

All financial liabilities are measured at amortised cost. Any discount or premium on redemption/ settlement is recognised in
the Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and adjusted
to the liability figure disclosed in the Balance Sheet.

ii) Financial liabilities at fair value through profit or loss (FVTPL):

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are
recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
P&L. However, the company may transfer the cumulative gain or loss within equity. All other changes in fair value of such
liability are recognised in the statement of profit and loss.

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

A financial asset is measured at fair value through profit or loss unless it is measured at amortised cost or fair value through
other comprehensive income. In addition, The Company may elect to designate a financial asset, which otherwise meets
amortised cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as ''accounting mismatch'')

Trade receivables, Advances, Security Deposits, Cash and Cash Equivalents etc. are classified for measurement at amortised
cost.

c. Derecognition

The Company derecognizes a financial asset when contractual rights to the cash flows from the asset expire, or when it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of the
consideration received and receivable is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realize
the assets and settle the liabilities simultaneously.

Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date under current market conditions.

The Company categorizes assets and liabilities measured at fair value into one of three levels depending on the ability to
observe inputs employed in their measurement which are described as follows:

(a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

(b) Level 2 inputs are inputs that are observable, either directly or indirectly, other than quoted prices included within level 1
for the asset or liability.

(c) Level 3 inputs are unobservable inputs for the asset or liability reflecting significant modifications to observable related
market data or Company''s assumptions about pricing by market participants.

xii) 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), which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash management.

xiii) Foreign currency Transactions

The functional currency of Crop Life Science Limited is Indian rupee. On initial recognition, all foreign currency transactions
are translated into the functional currency using the exchange rates prevailing on the date of the transaction. As at the
reporting date, foreign currency monetary assets and liabilities are translated at the exchange rate prevailing on the Balance
Sheet date and the exchange gains or losses are recognised in the Statement of Profit and Loss.

xiv) Employee benefits
Short term employee benefits

All employee benefits payable wholly within twelve months rendering services are classified as short term employee benefits.
Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the expected cost of
bonus, ex gratia are recognized during the period in which the employee renders related service.

Post employment benefits

a. Defined contribution plans

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other
than the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund
scheme as an expense, when an employee renders the related service.

b. Defined benefit plans

The Liability for Gratuity to employees, which is a defined benefit plan, as at Balance Sheet date determined on the basis of
actuarial Valuation based on Projected Unit Credit method.

The present value of the defined benefit obligations is determined by discounting the estimated future cash flows by
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 to the net balance of the
defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the
statement of profit and loss.

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

xv) Income Taxes:

Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognised in profit or loss except to
the extent that it relates to items recognised directly in equity or in other comprehensive income.

Current tax

Tax on income for the current period is determined on the basis of estimated taxable income and tax credits computed in
accordance with the provisions of the relevant tax laws and based on the expected outcome of assessments/ appeals if any.
Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit
and loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable
tax regulations are subject to interpretation and establishes provisions where appropriate.

The Company has adopted Appendix C of Ind AS-12 and has provided for the tax liability based on the significant judgment
that the taxation authority will not accept the tax treatment. However adoption of the same does not have any impact on the
Balance Sheet, Statement of Change in Equity and Statement of Profit & Loss Account.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the balance
sheet and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all
taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences, unabsorbed losses
and tax credits to the extent that it is probable that future taxable profits will be available against which those deductible
temporary differences, unabsorbed losses and tax credits will be utilised. The carrying amount of deferred tax assets is
reviewed at the end of financial year 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 assets and liabilities are measured at the tax rates
that are expected to apply in the period in which the liability is expected to be settled or the asset realised, based on tax rates
and tax laws that have been substantively enacted by the balance sheet date. Deferred tax assets and liabilities are offset
when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to
income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a
net basis.

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Mar 31, 2024

4.Summary of significant accounting policies:

i) Use of estimates: .

The preparation of these Ind AS Financial statements in conformity with the recognition and measurement principles of Ind AS requires the management of the Company to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of Ind AS Financial statements and reported amounts of revenues and expenses during the period. The estimates and assumptions used in the accompanying Ind AS Financial statements are based upon management''s evaluation of relevant facts and circumstances as at the date of the financial statements. Management believes that the estimates used in the preparationof Ind AS Financial statements are prudent and reasonable. Actual results could differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and future periods are affected.

Critical Accounting Estimates and Judgements used in application of Accounting Policies: _

a. Income Taxes , _c

Significant judgements are involved in determining the provision for Income Taxes, including amount expected to be paid /recovered for uncertain tax positions.

b. Property, Plant and Equipment

Property, plant and equipment represent a significant proportion of the asset base of the Company. The charge in respect of periodic depreciation is derived after determining an estimate of an asset''s expected useful life and the expected residual value at the end of its life. The useful life and residual values of the Company''s assets are determined by the Management at the time the asset is acquired and reviewed periodically, including at each financial year end. An item of property, plant & Equipment is eliminated from the Ind AS Financial statements on disposal or when no further benefit is expected from its use and disposal. Gains/ Losses arising from disposal are recognised in the Statement of Profit & Loss.

c. Impairment of Financial Assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation based on empirical evidence available without under cost or effort, existing market conditions as well as forward looking estimates atthe end of each reporting period. ''

d. Defined Benefit Plan

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligations is determined using actuarial valuation. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and attrition rate. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

e. Fair Value Measurement of Financial Instruments

When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow(DCF) model.

The inputs to these models are taken from observable markets, where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include consideration of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair values of financial instruments.

f. Determination of lease term & discount rate :

Ind AS 116 Leases requires lessee to determine the lease term as the non-cancellable period of a lease adjusted with any option to extend or terminate the lease, if the use of such option is reasonably certain. The Company makes assessment on the expected lease term on lease by lease basis and thereby assesses whether it is reasonably certain that any options to extend or terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any significant leasehold improvements undertaken over the lease term, costs relating to the termination of lease and the importance of the underlying to the Company''s operations taking into account the location of the underlying asset and the availability of the suitable alternatives.

The lease term in future periods is reassessed to ensure that the lease term reflects the current economic circumstances. The discount rate is generally based on the incremental borrowing rate specific to the lease being evaluated or for a portfolio of leases with similar characteristics.

g. Recognition and measurement of Contingent liabilities, provisions and uncertain tax positions:

There are various legal, direct and indirect tax matters and other obligations including local and state levies, availing input tax credits etc., which may impact the Company. Evaluation of uncertain liabilities and contingent liabilities arising out of above matters and recognition and measurement of other provisions are based on the assessment of the probability of an outflow of resources, and on past experience and circumstances known at the balance sheet date. The actual outflow of resources at a future date may therefore vary from the figure included in other provisions.

ii)Revenue recognition:

Under Ind AS 115 - Revenue from Contracts with Customers, revenue is recognised upon transfer of property of goods to the buyer for price, or when all significant risk & rewards of ownership have been transferred to the buyer and no effective controlis retained by the company in respect of the goods transferred. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, incentives, performance bonuses, price concessions, amounts collected on behalfof third parties, or other similar items, if any, as specified in the contract with the customer. Revenue is recorded provided the recovery of consideration is probable and determinable.

Sale of Products

Revenue from the sale of products is recognised at a point in time, upon transfer of control of products to the customers which coincides with their delivery and is measured at transaction value of consideration received/receivable, net of discounts, amount collected on behalf of third parties and applicable taxes.

Interest income

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.

iii) Property, Plant & Equipment:

Property, Plant & Equipment

Property, plant and equipment are tangible items that are held for use in the production or supply of goods and services, rental to others or for administrative purposes and are expected to be used during more than one period. The cost of an item of property, plant and equipment is recognised as an asset if and only, if it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Freehold land is carried at cost less accumulated impairment losses if any. All other items of property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost of an item of property, plant and equipment comprises:

• Its purchase price, all costs including financial costs till commencement of commercial production are capitalized to the cost of qualifying assets. GST/Tax credit, if any, are accounted for by reducing the cost of capital goods;

• Any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. ''

Capital Work-in-progress

Capital work in progress is stated at cost, comprising direct cost, related incidental expenses and attributable borrowing cost and net of accumulated impairment losses, if any. All the direct expenditure related to implementation including incidental expenditure incurred during the period of implementation of a project, till it is commissioned, is accounted as Capital work in progress (CWIP) and after commissioning the same is transferred / allocated to the respective item of property, plant and equipment. Pre-operating costs, being indirect in nature, are expensed to the statement of profit and loss as and when incurred. ''

Derecognition of Property, Plant and Equipment: __

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss from the derecognition of an item of property, plant and equipment is recognised in the statement of profit and loss account when the item is derecognized. ^

iv) Depreciation on Property, Plant & Equipment: ’

Depreciation on each part of an item of property, plant and equipment is provided using the Written Down Value method (WDV) based on the useful life of the asset as prescribed in Schedule II of the Companies Act, 2013.

The useful lives, residual values of each part of an item of property, plant and equipment and the depreciation methods are reviewed at the end of each financial year. If any of these expectations differ from previous estimates, such change is accounted for as a change in an accounting estimate.

v) Intangible Assets and Amortization:

Intangible assets purchased are measured at cost or fair value as on the date of acquisition, as applicable, less accumulated amortisation and accumulated impairment, if any. -

Intangible assets are amortised on a Written down value basis over their estimated useful lives, commencing from the date the asset is available to the Company for its intended use.

Following initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses, if any. Internally generated intangible assets, excluding capitalised development costs, are not capitalised and expenditure is reflected in the Statement of Profit and Loss in the year in which the expenditure is incurred.

The estimated useful life of the intangible assets and the amortisation period are reviewed at the end of each financial yearand the amortisation period is revised to reflect the changed pattern, if any

vi) Impairment of Property, Plant & Equipment and intangible assets :

At the end of each reporting period, the Company reviews the carrying amounts of its Property, Plant & Equipment andintangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cashgenerating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessmentsof the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. "

Carrying amount equals to cost less accumulated depreciation and accumulated impairment losses recognised previously. -

vii) Borrowing Costs:

Interest and other costs that the Company incurs in connection with the borrowing of funds are identified as borrowing costs. The Company capitalises borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset. Other borrowing costs are recognised as an expense in the period in which it is incurred. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. The Company identifies the borrowings into specific borrowings and general borrowings. Specific borrowings are borrowings that are specifically taken for the purpose of obtaining a qualifying asset. General borrowings include all other borrowings except the amount outstanding as on the balance sheet date of specific borrowings for assets that are not yet ready for use. Borrowing cost incurred actually on specific borrowings are capitalised to the cost of the qualifying asset. For general borrowings, the Company determines the amount of borrowing costs eligible for capitalisation by applying a capitalisation rateto the expenditures on the qualifying asset based on the weighted average of the borrowing costs applicable to general borrowings. The capitalisation on borrowing costs commences when the Company incurs expenditure for the asset, incurs borrowing cost and undertakes activities that are necessary to prepare the asset for its intended use or sale. The capitalisation of borrowing costs is suspended during extended periods in which active development of a qualifying asset is suspended. The capitalisation of borrowing costs ceases when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are complete.

viii) Inventories:

Raw Materials, Packing Materials, Stores and Spares

Raw Materials, Packing Materials, Stores & Spares and consumables are valued at lower of cost (net of refundable taxes and duties) and net realisable value. Inventories are not written down below cost if the related finished products are expected to be sold at or above cost. Cost is determined on First-In-First-Out basis and includes all cost incurred in bringing the inventories to their present location and condition.

Finished Goods and Work-in-progress

Work-in-progress and finished goods are valued at lower of cost and net realisable value. Cost includes direct material and labour and a proportion of manufacturing overheads based on normal operating capacity. Cost in respect of Finished Goods and Work-Inprogress are computed on Weighted Average Basis Method. Net Realizable Value is the estimated selling price inthe ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale. Obsolete, slow moving and defective inventories are identified and provision made wherever necessary.

Stock in Trade

Stock in Trade is valued at lower of cost and net realisable value. Cost is determined on FIFO basis.

ix) Leases:

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.

Company as a Lessee:

The Company applies a single recognition and measurement approach for all leases. The Company recognises lease liabilities tomake lease payments and right-of-use assets representing the right to use the underlying assets.

(A) Right-of-use Assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment.

(B) Lease Liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencementdate, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

The Company''s lease liabilities are included in Other non-current financial liabilities.

(C) Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and lease liabilities for short term lease that have a lease term of12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases on straight line basis as per the terms of the lease.

x) Government Grants and Subsidies:

Government grants are recognised when there is reasonable assurance that the Company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the Company recognises as expenses the related costs for which the grants are intended to compensate.

Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving 5 immediate financial support to the Company with no future related costs are recognised in profit or loss in the period in which they become receivable.

The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as thedifference between proceeds received and the fair value of the loan based on prevailing market interest rates.

xi) Financial Instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are measured at transaction price. 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 profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in Statement of Profit and Loss.

The financial assets comprise of trade receivables, cash and cash equivalents, other bank balances and deposits, interest accrued, security deposits, intercorporate deposits, contract assets and other receivables.

These assets are measured subsequently at amortised cost.

The financial liabilities comprise of borrowings, lease liabilities, retention and capital creditors, interest accrued, deposit from customers, trade and other payables.

Financial assets and financial liabilities are offset when the Company has a legally enforceable right (not contingent on future events) to off-set the recognised amounts either to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

Financial Assets

a. Initial recognition and measurement

At initial recognition, the Company measures a financial asset (which are not measured at fair value) through profit or loss at its fair value plus or minus transaction costs that are directly attributable to the acquisition or issue of the financial asset.

b. Subsequent measurement "

For purposes of subsequent measurement, financial assets are classified in following categories: ^y i) Financial assets measured at amortised cost;

ii) Financial assets at fair value through profit or loss (FVTPL) and '' ''

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

The Company classifies its financial assets in the above mentioned categories based on: j

a) The Company''s business model for managing the financial assets, and

b) The contractual cash flows characteristics of the financial asset.

i) Financial assets measured at amortised cost :

A financial asset is measured at amortised cost if both of the following conditions are met:

a) A financial asset is measured at amortised cost if the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and the Contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

b) Financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of theEIR. The EIR amortisation is included in finance income in the profit or loss. The losses arising from impairment are recognisedin the profit or loss.

ii) Financial assets at fair value through profit or loss (FVTPL):

Financial assets are measured at fair value through profit and loss unless it is measured at amortised 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 or loss are immediately recognized in profit or loss.

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

A financial asset is measured at fair value through profit or loss unless it is measured at amortised cost or fair value through other comprehensive income. In addition, The Company may elect to designate a financial asset, which otherwise meets amortised cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ''accounting mismatch'')

Trade receivables, Advances, Security Deposits, Cash and Cash Equivalents etc. are classified for measurement at amortised cost.

The Company applies expected credit losses (ECL) model for measurement and recognition of loss allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables and lease receivables),

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

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on its portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal to 12-month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an amount equal to lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit risk since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial asset. 12-month ECL are a portion of the lifetime ECL which result from default events that are possible within 12 months from the reporting date.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of outcomes, taking into account the time value of money and other reasonable information available as a result of past events, current conditions and forecasts of future economic conditions.

c. Impairment

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of outcomes, taking into account the time value of money and other reasonable information available as a result of past events, current conditions and forecasts of future economic conditions.

Financial Liabilities

a. Initial recognition and measurement

All financial liabilities are recognised initially at fair value and subsequently carried at amortised cost using the effectiveinterest method.

The company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.

b. Subsequent measurement _&

The measurement of financial liabilities depends on their classification, as described below: ''

i) Financial liabilities measured at amortised cost.

ii) Financial liabilities at fair value through profit or loss.

i) Financial liabilities measured at amortised cost : "

All financial liabilities are measured at amortised cost. Any discount or premium on redemption/ settlement is recognised in the Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and adjusted to the liability figure disclosed in the Balance Sheet.

ii) Financial liabilities at fair value through profit or loss (FVTPL): _

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognisedin the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initialdate of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to P&L. However, the company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liabilityare recognised in the statement of profit and loss.

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

c. Derecognition

The Company derecognizes a financial asset when contractual rights to the cash flows from the asset expire, or when ittransfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of theconsideration received and receivable is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realizethe assets and settle the liabilities simultaneously.

Fair Value Measurement ^

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions.

The Company categorizes assets and liabilities measured at fair value into one of three levels depending on the ability to observe inputs employed in their measurement which are described as follows:

(a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

(b) Level 2 inputs are inputs that are observable, either directly or indirectly, other than quoted prices included within level 1 for the asset or liability.

(c) Level 3 inputs are unobservable inputs for the asset or liability reflecting significant modifications to observable related

market data or Company''s assumptions about pricing by market participants. ,

xii) 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), which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash management.

xiii) Foreign currency Transactions

The functional currency of Crop Life Science Limited is Indian rupee. On initial recognition, all foreign currency transactions are translated into the functional currency using the exchange rates prevailing on the date of the transaction. As at the reporting date, foreign currency monetary assets and liabilities are translated at the exchange rate prevailing on the Balance Sheet date and the exchange gains or losses are recognised in the Statement of Profit and Loss.

xiv) Employee benefits j

Short term employee benefits ,

All employee benefits payable wholly within twelve months rendering services are classified as short term employee benefits. Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the expected cost of bonus, ex gratia are recognized during the period in which the employee renders related service.

Post employment benefits

a. Defined contribution plans

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the related service.

b. Defined benefit plans

The Liability for Gratuity to employees, which is a defined benefit plan, as at Balance Sheet date determined on the basis of actuarial Valuation based on Projected Unit Credit method.

The present value of the defined benefit obligations is determined by discounting the estimated future cash flows by 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 to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the statement of profit and loss. Remeasurement 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 balance sheet. Changes in present value of the defined benefit obligation resulting fromplan amendment or curtailments are recognized immediately in profit or loss as past service cost

xv) Income Taxes:

Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognised in profit or loss except to Current tax

Tax on income for the current period is determined on the basis of estimated taxable income and tax credits computed in accordance with the provisions of the relevant tax laws and based on the expected outcome of assessments/ appeals if any. Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit and loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

The Company has adopted Appendix C of Ind AS-12 and has provided for the tax liability based on the significant judgment that the taxation authority will not accept the tax treatment. However adoption of the same does not have any impact on the Balance Sheet, Statement of Change in Equity and Statement of Profit & Loss Account.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the balance sheet and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences, unabsorbed losses and tax credits to the extent that it is probable that future taxable profits will be available against which those deductible temporary differences, unabsorbed losses and tax credits will be utilised. The carrying amount of deferred tax assets is reviewed at the end of financial year 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 assets and liabilities are measured at the tax rates that are expectedto apply in the period in which the liability is expected to be settled or the asset realised, based on tax rates and tax laws thathave been substantively enacted by the balance sheet date. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.

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Mar 31, 2023

Summary of significant accounting policies

i) Use of estimates:

The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires
the management of the Company to make estimates, judgements and assumptions that affect the application of accounting
policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of
financial statements and reported amounts of revenues and expenses during the period. The estimates and assumptions used in
the accompanying financial statements are based upon management''s evaluation of relevant facts and circumstances as at the
date of the financial statements. Management believes that the estimates used in the preparation of financial statements are
prudent and reasonable. Actual results could differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in
the period in which the estimates are revised and future periods are affected.

Critical Accounting Estimates and Judgements used in application of Accounting Policies:

a. Income Taxes

Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the
provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions. Significant
management judgement is also required to determine the amount of deferred tax assets that can be recognised, based upon
the likely timing and the level of future taxable profits together with future tax planning strategies, including estimates ol
temporary differences reversing on account of available benefits from the Income Tax Act, 1961.

b. Property, Plant and Equipment

Property, plant and equipment represent a significant proportion of the asset base of the Company. The charge in respect of
periodic depreciation is derived after determining an estimate of an asset''s expected useful life and the expected residual value
at the end of its life. The useful life and residual values of the Company''s assets are determined by the Management at the time
the asset is acquired and reviewed periodically, including at each financial year end. An item of property, plant & Equipment is
eliminated from the financial statements on disposal or when no further benefit is expected from its use and disposal. Gains/
Losses arising from disposal are recognised in the Statement of Profit & Loss.

c. Impairment of Non Financial Assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on
available data for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use
calculation is based on a discounted future cashflows model. The recoverable amount is sensitive to the discount rate used for
the discounted future cashflows model as well as the expected future cash-inflows and the growth rate used.

d. Defined Benefit Plan

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligations is
determined using actuarial valuation. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and
attrition rate. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

e. Fair Value Measurement of Financial Instruments

When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow
(DCF) model. The inputs to these models are taken from observable markets, where possible, but where this is not feasible, a
degree of judgement is required in establishing fair values. Judgements include consideration of inputs such as liquidity risk,
credit risk and volatility. Changes in assumptions about these factors could affect the reported fair values of financial
instruments.

f. Determination of lease term & discount rate:

Ind AS 116 Leases requires lessee to determine the lease term as the non-cancellable period of a lease adjusted with any option
to extend or terminate the lease, if the use of such option is reasonably certain. The Company makes assessment on the
expected lease term on lease by lease basis and thereby assesses whether it is reasonably certain that any options to extend or
terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any significant
leasehold improvements undertaken over the lease term, costs relating to the termination of lease and the importance of the
underlying to the Company''s operations taking into account the location of the underlying asset and the availability of the
suitable alternatives. The lease term in future periods is reassessed to ensure that the lease term reflects the current economic
circumstances. The discount rate is generally based on the incremental borrowing rate specific to the lease being evaluated or
for a portfolio of leases with similar characteristics.

g. Recognition and measurement of Contingent liabilities, provisions and uncertain tax positions:

There are various legal, direct and indirect tax matters and other obligations including local and state levies, availing input tax
credits etc., which may impact the Company. Evaluation of uncertain liabilities and contingent liabilities arising out of above
matters and recognition and measurement of other provisions are based on the assessment of the probability of an outflow of
resources, and on past experience and circumstances known at the balance sheet date. The actual outflow of resources at a
future date may therefore vary from the figure included in other provisions.

ii) Revenue recognition:

Under Ind AS 115 - Revenue from Contracts with Customers, revenue is recognised upon transfer of property of goods to the
buyer for price, or when all significant risk & rewards of ownership have been transferred to the buyer and no effective control
is retained by the company in respect of the goods transferred. Revenue is measured based on the transaction price, which is
the consideration, adjusted for discounts and other incentives, if any, as per contracts with the customers. Revenue also
excludes taxes or amounts collected from customers in its capacity as agent

Sale of Products

Revenue from the sale of products is recognised at a point in time, upon transfer of control of products to the customers which
coincides with their delivery and is measured at transaction value of consideration received/receivable, net of discounts,
amount collected on behalf of third parties and applicable taxes.

Interest income

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.

iii) Property, Plant & Equipment:

Property, Plant & Equipment

Property, plant and equipment are tangible items that are held for use in the production or supply of goods and services, rental
to others or for administrative purposes and are expected to be used during more than one period. The cost of an item of
property, plant and equipment is recognised as an asset if and only, if it is probable that future economic benefits associated
with the item will flow to the Company and the cost of the item can be measured reliably. Freehold land is carried at cost less
accumulated impairment losses if any. All other items of property, plant and equipment are stated at cost less accumulated
depreciation and accumulated impairment losses. Cost of an item of property, plant and equipment comprises:

• Its purchase price, all costs including financial costs till commencement of commercial production are capitalized to the cost
of qualifying assets. GST/Tax credit, if any, are accounted for by reducing the cost of capital goods;

• Any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by management.

All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

Capital Work-in-progress

Capital work in progress is stated at cost, comprising direct cost, related incidental expenses and attributable borrowing cost
and net of accumulated impairment losses, if any. All the direct expenditure related to implementation including incidental
expenditure incurred during the period of implementation of a project, till it is commissioned, is accounted as Capital work in
progress (CWIP) and after commissioning the same is transferred / allocated to the respective item of property, plant and
equipment. Pre-operating costs, being indirect in nature, are expensed to the statement of profit and loss as and when incurred.

Derecognition of Property, Plant and Equipment:

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic
benefits are expected from its use or disposal. The gain or loss from the derecognition of an item of property, plant and
equipment is recognised in the statement of profit and loss account when the item is derecognized.

Transition to Ind-AS:

For transition to Ind AS, the Company has elected to continue with the carrying value of all of its property, plant and equipment
recognised as of April 1, 2019 (transition date) measured as per the previous GAAP and use that carrying value as its deemed
cost as of the transition date.

iv) Depreciation on Property, Plant & Equipment:

Depreciation on each part of an item of property, plant and equipment is provided using the Written Down Value method
(WDV) based on the useful life of the asset as prescribed in Schedule II of the Companies Act, 2013.

The useful lives, residual values of each part of an item of property, plant and equipment and the depreciation methods are
reviewed at the end of each financial year. If any of these expectations differ from previous estimates, such change is
accounted for as a change in an accounting estimate.

v) Intangible Assets and Amortization:

Intangible assets purchased are measured at cost or fair value as on the date of acquisition, as applicable, less accumulated
amortisation and accumulated impairment, if any.

Intangible assets are amortised on a straight line basis over their estimated useful lives, commencing from the date the asset is
available to the Company for its intended use.

Following initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment
losses, if any. Internally generated intangible assets, excluding capitalised development costs, are not capitalised and
expenditure is reflected in the Statement of Profit and Loss in the year in which the expenditure is incurred.

The estimated useful life of the intangible assets and the amortisation period are reviewed at the end of each financial year and
the amortisation period is revised to reflect the changed pattern, if any. The company has elected to regard previous GAAP
carrying values of intangible assets as deemed cost at the date of transition to Ind AS i.e April 01, 2021.

vi) Impairment of Property, Plant & Equipment and intangible assets :

At the end of each reporting period, the Company reviews the carrying amounts of its Property, Plant & Equipment and
intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if
any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable
amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be
identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the
smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least
annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Carrying amount equals to cost less accumulated depreciation and accumulated impairment losses recognised previously.

vii) Borrowing Costs:

Interest and other costs that the Company incurs in connection with the borrowing of funds are identified as borrowing costs.
The Company capitalises borrowing costs that are directly attributable to the acquisition, construction or production of a
qualifying asset as part of the cost of that asset. Other borrowing costs are recognised as an expense in the period in which it is
incurred. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. The
Company identifies the borrowings into specific borrowings and general borrowings. Specific borrowings are borrowings that
are specifically taken for the purpose of obtaining a qualifying asset. General borrowings include all other borrowings except the
amount outstanding as on the balance sheet date of specific borrowings for assets that are not yet ready for use. Borrowing
cost incurred actually on specific borrowings are capitalised to the cost of the qualifying asset. For general borrowings, the
Company determines the amount of borrowing costs eligible for capitalisation by applying a capitalisation rate to the
expenditures on the qualifying asset based on the weighted average of the borrowing costs applicable to general borrowings.
The capitalisation on borrowing costs commences when the Company incurs expenditure for the asset, incurs borrowing cost
and undertakes activities that are necessary to prepare the asset for its intended use or sale. The capitalisation of borrowing
costs is suspended during extended periods in which active development of a qualifying asset is suspended. The capitalisation of
borrowing costs ceases when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale
are complete.

viii) Inventories:

Raw Materials, Packing Materials, Stores and Spares

Raw Materials, Packing Materials, Stores & Spares and consumables are valued at lower of cost (net of refundable taxes and
duties) and net realisable value. Inventories are not written down below cost if the related finished products are expectsed to
be sold at or above cost. Cost is determined of First-In-First-Out basis and includes all cost incurred in bringing the inventories to
their present location and condition.

Finished Goods and Work-in-progress

Work-in-progress and finished goods are valued at lower of cost and net realisatble value. Cost includes direct material and
labour and a proportion of manufacturing overheads based on normal operating capacity. Cost in respect of Finished Goods and
Work-In-progress are computed on Weighted Average Basis Method. Net Realizable Value is the estimated selling price in the
ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale. Obsolete, slow
moving and defective inventories are identified and provision made wherever necessary.

Stock in Trade

Stock in Trade is valued at lower of cost and net realisable value. Cost is determined on FIFO basis.

ix) Leases:

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.

Company as a Lessee:

The Company applies a single recognition and measurement approach for all leases. The Company recognises lease liabilities to
make lease payments and right-of-use assets representing the right to use the underlying assets.

a-Right-of-use Assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or
the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The
right-of-use assets are also subject to impairment.

b-Lease Liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including insubstance fixed payments)
less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be
paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably
certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the
Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised
as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the
payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date,
the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In
addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in
the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease
payments) or a change in the assessment of an option to purchase the underlying asset.

The Company''s lease liabilities are included in Other non-current financial liabilities.

c-Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and lease liabilities for short term lease that have a lease term of
12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases on
straight line basis as per the terms of the lease.

x) Government Grants and Subsidies:

Government grants are recognised when there is reasonable assurance that the Company will comply with the conditions
attaching to them and that the grants will be received.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the Company recognises as
expenses the related costs for which the grants are intended to compensate.

Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving
immediate financial support to the Company with no future related costs are recognised in profit or loss in the period in which
they become receivable.

The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the
difference between proceeds received and the fair value of the loan based on prevailing market interest rates.

xi) Financial Instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument
of another entity.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are measured at
transaction price. 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 profit or loss) are added to or deducted from
the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised
immediately in Statement of Profit and Loss.

The financial assets comprise of trade receivables, cash and cash equivalents, other bank balances and deposits, interest
accrued, security deposits, intercorporate deposits, contract assets and other receivables.

These assets are measured subsequently at amortised cost.

The financial liabilities comprise of borrowings, lease liabilities, retention and capital creditors, interest accrued, deposit from
customers, trade and other payables.

Financial assets and financial liabilities are offset when the Company has a legally enforceable right (not contingent on future
events) to off-set the recognised amounts either to settle on a net basis, or to realise the assets and settle the liabilities
simultaneously

Financial Assets

a. Initial recognition and measurement

At initial recognition, the Company measures a financial asset (which are not measured at fair value) through profit or loss at its
fair value plus or minus transaction costs that are directly attributable to the acquisition or issue of the financial asset.

b. Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

i) Financial assets measured at amortised cost;

ii) Financial assets at fair value through profit or loss (FVTPL) and

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

The Company classifies its financial assets in the above mentioned categories based on:

a) The Company''s business model for managing the financial assets, and

b) The contractual cash flows characteristics of the financial asset.

i) Financial assets measured at amortised cost :

A financial asset is measured at amortised cost if both of the following conditions are met:

a) A financial asset is measured at amortised cost if the financial asset is held within a business model whose objective is to
hold financial assets in order to collect contractual cash flows and the Contractual terms of the financial assets give rise on
specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

b) Financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost
is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.
The EIR amortisation is included in finance income in the profit or loss. The losses arising from impairment are recognised in the
profit or loss.

ii) Financial assets at fair value through profit or loss (FVTPL):

Financial assets are measured at fair value through profit and loss unless it is measured at amortised 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 or loss are immediately recognized in profit or loss.

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

A financial asset is measured at fair value through profit or loss unless it is measured at amortised cost or fair value through
other comprehensive income. In addition, The Company may elect to designate a financial asset, which otherwise meets
amortised cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as ''accounting mismatch'')

Trade receivables, Advances, Security Deposits, Cash and Cash Equivalents etc. are classified for measurement at amortised
cost.

The Company applies expected credit losses (ECL) model for measurement and recognition of loss allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables and lease receivables),

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

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the
cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured
and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on its
portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk of
the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal to 12-
month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an amount equal to
lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit risk
since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial asset.
12-month ECL are a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the
Statement of Profit and Loss under the head ''Other expenses''.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.

c. Impairment

The company assesses at the end of each reporting period whether a financial assets or group of financial assets is impaired. In
accordance of Ind AS 109, the Company applies expected credit losses (ECL) model for measurement and recognition of loss
allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables and lease receivables),

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

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the
cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured
and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on its
portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk of
the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal to 12-
month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an amount equal to
lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit risk
since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial asset.
12-month ECL are a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date.ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in
the Statement of Profit and Loss under the head ''Other expenses''.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.

Financial Liabilities

a. Initial recognition and measurement

All financial liabilities are recognised initially at fair value and subsequently carried at amortised cost using the effective interest
method.

The company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.

b. Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

i) Financial liabilities measured at amortised cost.

ii) Financial liabilities at fair value through profit or loss.

i) Financial liabilities measured at amortised cost :

All financial liabilities are measured at amortised cost. Any discount or premium on redemption/ settlement is recognised in the
Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and adjusted to the
liability figure disclosed in the Balance Sheet.

ii) Financial liabilities at fair value through profit or loss (FVTPL):

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognised
in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses
attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to P&L.
However, the company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are

iii) Financial assets at fair value through other comprehensive income (FCTOCI):

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

c. Derecognition

The Company derecognizes a financial asset when contractual rights to the cash flows from the asset expire, or when it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset in its entirety, the difference between the assets''s carrying amount and the sum of the
consideration received and receivable is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realize
the assets and settle the liabilities simultaneously.

Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date under current market conditions.

The Company categorizes assets and liabilities measured at fair value into one of three levels depending on the ability to
observe inputs employed in their measurement which are described as follows:

(a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

(b) Level 2 inputs are inputs that are observable, either directly or indirectly, other than quoted prices included within level 1 for
the asset or liability.

(c) Level 3 inputs are unobservable inputs for the asset or liability reflecting significant modifications to observable related
market data or Company''s assumptions about pricing by market participants.

xii) 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), which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash management.

xiii) Foreign currency Transactions

The functional currency of Crop Life Science Limited is Indian rupee.On initial recognition, all foreign currency transactions are
translated into the functional currency using the exchange rates prevailing on the date of the transaction. As at the reporting
date, foreign currency monetary assets and liabilities are translated at the exchange rate prevailing on the Balance Sheet date
and the exchange gains or losses are recognised in the Statement of Profit and Loss.

xiv) Employee benefits
Short term employee benefits

All employee benefits payable wholly within twelve months rendering services are classified as short term employee benefits.
Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the expected cost of
bonus, ex gratia are recognized during the period in which the employee renders related service.

Post employment benefits

a. Defined contribution plans

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than
the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund scheme as
an expense, when an employee renders the related service.

b. Defined benefit plans

The Liability for Gratuity to employees, which is a defined benefit plan, as at Balance Sheet date determined on the basis of
actuarial Valuation based on Projected Unit Credit method.

The present value of the defined benefit obligations is determined by discounting the estimated future cash flows by 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 to the net balance of the defined benefit
obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the statement of profit and
loss.

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

xv) Income Taxes:

Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognised in profit or loss except to
the extent that it relates to items recognised directly in equity or in other comprehensive income.

Current tax

Tax on income for the current period is determined on the basis of estimated taxable income and tax credits computed in
accordance with the provisions of the relevant tax laws and based on the expected outcome of assessments/ appeals if any.
Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit and
loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation and establishes provisions where appropriate.

The Company has adopted Appendix C of Ind AS-12 and has provided for the tax liability based on the significant judgment that
the taxation authority will not accept the tax treatment. However adoption of the same does not have any impact on the
Balance Sheet, Statement of Change in Equity and Statement of Profit & Loss Account.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the balance sheet
and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable
temporary differences. Deferred tax assets are recognised for all deductible temporary differences, unabsorbed losses and tax
credits to the extent that it is probable that future taxable profits will be available against which those deductible temporary
differences, unabsorbed losses and tax credits will be utilised. The carrying amount of deferred tax assets is reviewed at the
end of financial year 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 assets and liabilities are measured at the tax rates that are expected
to apply in the period in which the liability is expected to be settled or the asset realised, based on tax rates and tax laws that
have been substantively enacted by the balance sheet date. Deferred tax assets and liabilities are offset when there is a legally
enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the
same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.