(a)	Basis of brparation
	These financial statements have been brpared in accordance with the Generally Accepted Accounting Principles in India (‘Indian GAAP’) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been brpared under the historical cost convention on accrual basis.
(b)	Use of estimates
	The brparation of financial statements in conformity with general accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end. Although these estimates are based upon management’s best knowledge of current events and actions, actual results could differ from these estimates.
(c)	Tangible and intangible assets
	Tangible assets are stated at historical cost less accumulated debrciation and impairment loss, if any. Costs include expenditure directly attributable to the acquisition of the asset. Intangible assets are stated at the consideration paid for acquisition less accumulated amortization and impairment loss, if any. Advances paid towards acquisition of fixed assets outstanding at each balance sheet date and the cost of the fixed assets which are not ready for their intended use before such date are disclosed under Loans & Advances and Capital work-in-progress respectively.
(d)	Debrciation and amortisation
	Tangible assets are debrciated pro rata to the period of use on the written down value method in the manner specified in Schedule II of the Companies Act, 2013. Intangible assets are amortized at the rate of 40%.
(e)	Impairment
	The Company assesses at each Balance Sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognised in the Statement of Profit and Loss. If at the Balance Sheet date there is an indication that a brviously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the lower of recoverable amount and the carrying amount that would have been determined had no impairment loss been recognised.
(f)	Revenue recognition
	Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised. Sale of products: Revenue from sale of products is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. The Company collects GST/sales taxes and value added taxes (VAT) on behalf of the government and, therefore, these are not economic benefits flowing to the Company. Hence, they are excluded from revenue. Excise duty deducted from revenue (gross) is the amount that is included in the revenue (gross) and not the entire amount of liability arising during the year. Sale of services: In respect of contracts involving research services, contract research fees are recognized as services are rendered in accordance with the terms of the contracts in case of services performed on ‘time and material basis”. Rental income: The company has entered into cancellable operating lease agreement for renting out its Building. In respect of this lease, the lease rent has been recognised as income in the statement of profit and loss on accrual basis. Interest income: Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest income is included under the head “other income” in the statement of profit and loss. Dividend income: Dividend income is recognised when the Company’s right to receive dividend is established by the reporting date. Government grants: Government grants received are recognized as income over the periods necessary to match them with the costs for which they are intended to compensate, on a systematic basis.
(g)	Inventories
	Raw materials are value at lower of cost and net realizable value. The cost of inventories of items that are not ordinarily interchangeable and goods or services produced and segregated for specific projects should be assigned by specific identification of their individual costs. The cost of inventories, other than those specified above, is determined on a weighted average basis. Work-in-progress is valued at lower of cost and net realizable value. Cost includes direct material, direct labour and direct expenses attributable to manufacturing activities.
(h)	Taxation
	Current tax: Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961. Deferred tax: The differences that result between the profit considered for income taxes and the profit as per the financial statements are identified, and thereafter a deferred tax asset or deferred tax liability is recorded for timing differences, namely the differences that originate in one accounting period and reverse in another, based on the tax effect of the aggregate amount of timing difference. The tax effect is calculated on the accumulated timing differences at the end of an accounting period based on enacted or substantively enacted regulations. Deferred tax assets, other than those relating to unabsorbed debrciation and carry forward business loss, are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each reporting date.
(i)	Foreign currency transactions
	Initial recognition: Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction. Conversion: Foreign currency monetary items are retranslated using the exchange rate brvailing at the reporting date. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. Non-monetary items which are carried at fair value or other similar valuation denominated in a foreign currency are translated using the exchange rates at the date when such values were determined. Exchange differences: The differences in translation of monetary assets and liabilities and realized gains and losses on foreign exchange transactions other than those related to fixed assets are recognized in the statement of profit and loss.
(j)	Retirement benefits
	Provident fund: Retirement benefit in the form of Provident Fund is a defined contribution scheme and the contributions are charged to the statement of profit and loss for the year when the employee renders the related service and the contributions to the government funds are due. The Company has no obligation other than the contribution payable to provident fund authorities. Gratuity: For the purpose of administration of gratuity of the employees of the Company, the Company has established Anthem Biosciences Private Limited Employees Gratuity Trust. In accordance with applicable Indian Laws, the company provides for Gratuity as a defined benefit retirement plan and is provided on the basis of actuarial valuations. Leave encashment: Leave encashment liability is in accordance with the rules of the company has been done on actuarial basis at the year end.
(k)	Provisions, Contingent Liabilities and Contingent Assets
	Provisions are recognised only when there is a brsent obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate of the amount of the obligation can be made. Contingent liability is disclosed for (i) Possible obligations which will be confirmed only by future events not wholly within the control of the Company or (ii) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. Contingent Assets are not recognised in the financial statements.
(l)	Investments
	Investments that are readily realisable and intended to be held for not more than twelve months from the date on which such investments are made are classified as current investments. All other investments are classified as long-term investments.On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees and duties. Current investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis. Long-term investments are carried at cost. However, provision for diminution in value is made to recognise a decline other than temporary in the value of the investments.
(m)	Cash flow statement/Cash and cash equivalents
	Cash flows are reported using the direct method, whereby the amounts are calculated using the beginning and ending balances of various accounts of the business and the net increase or decrease in the account. The cash flows from operating, investing and financing activities of the Company are segregated. Cash and cash equivalents for the purpose of cash flow statement comprise cash at bank and in hand and short term deposits with an original maturity of more than three months but less than 12 months.
(n)	Borrowing costs
	Borrowing cost includes interest and amortization of ancillary costs incurred in connection with the arrangement of borrowings. Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur.
(o)	Operating cycle
	Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their realisation in cash or cash equivalents, the Company has determined its operating cycle as twelve months for the purpose of classifications of its assets and liabilities as current and non-current.

Provident fund: Retirement benefit in the form of Provident Fund is a defined contribution scheme and the contributions are charged to the statement of profit and loss for the year when the employee renders the related service and the contributions to the government funds are due. The Company has no obligation other than the contribution payable to provident fund authorities.
Gratuity: For the purpose of administration of gratuity of the employees of the Company, the Company has established Anthem Biosciences Private Limited Employees Gratuity Trust. In accordance with applicable Indian Laws, the company provides for Gratuity as a defined benefit retirement plan and is provided on the basis of actuarial valuations.
Leave encashment: Leave encashment liability is in accordance with the rules of the company has been done on actuarial basis at the year end.