(i) Basis for preparation of Financial Statements
 
 The financial statements which have been prepared under the historical
 cost convention on the accrual basis of accounting, are in accordance
 with the applicable requirements of the Companies Act, 1956 (the ''Act'')
 and comply in all material aspects with the Accounting Standards
 prescribed by the Central Government, in accordance with the Companies
 (Accounting Standards) Rules, 2006 as adopted consistently by the
 Company, to the extent applicable.
 
 (ii) Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 (iii) Revenue recognition
 
 The Company recognizes revenue on accrual basis in accordance with
 Accounting Standard 9. The Company derives its revenue from either
 supply or on installation of educational products and provision of
 educational services.
 
 The revenue from sale of educational products/ technology equipments is
 recognized on transfer of property in goods which generally coincides
 with dispatch/ delivery to the customer.
 
 Revenue from Edureach (ICT) under BOOT contract is recognized ratably
 over the period of the contract/contractual obligations.  Revenue from
 professional development is recognized after the professional
 development services have been rendered to the customer. Revenue from
 online educational services (if charged) is recognized upon receipt of
 subscription fee in case non-refundable otherwise ratably over the
 subscription period.
 
 Revenue from franchisee constituting one time franchisee fee (non-
 refundable) is recognized upon receipt of fee from the franchisee.  The
 recurring revenue from franchisee is recognized on accrua basis. The
 revenue from tuition fee is recorded equally over the period of
 instruction.
 
 Revenue for smartclass projects is recognized under various heads,
 namely: BOOT Contracts / Out right sale basis contracts / Boot business
 transferred under BOOT contracts/ Exports. Revenue from smartclass
 BOOT contracts is recognized ratably over the period of the Contract/
 contractual obligations. Revenue from Out right sale basis contracts
 consisting of both hardware and knowledge based content, wherein
 knowledge based content is recognized on icensing /delivery / grant of
 the same for the contract period and technology Equipments on
 delivery/dispatch basis. Revenue from transfer of existing BOOT
 Contracts is recognized on grant of right to use of Knowledge based
 content.
 
 However , a portion of the revenue earned on right to use/licensing of
 educational content/ Knowledge Based content under Out right Sale
 basis contracts and BOOT Business transferred under Boot Contracts
 is treated as unearned towards future cost of updates due to economic
 obligation of the Company to provide the same. The unearned revenue is
 recognized in subsequent period matching with the cost of future
 updates incurred in those period.
 
 Revenue from overseas agreements / exports is recognized when the
 Educational knowledge Based content license is delivered & accepted.
 However in case where knowledge base content is icensed for a long term
 period, and is dependent on percent of revenue earned by the licensee,
 the revenue is recognized on establishment of right to receive.
 
 Income from interest on fixed deposits is recognized using the time
 proportion method, based on interest rates implicit in the transaction.
 
 Dividends income is recognized when the right to receive payment is
 established.
 
 (iv) Expenditure
 
 Expenses are accounted for on accrual basis and provisions are made for
 all known losses and liabilities.
 
 License Fees for educational content
 
 In respect of licensing contracts with fixed license fee for fixed
 period and a pre-defined number of sublicensing arrangements, icense
 fee is expensed in such a manner that cumulative amount of fee expense
 at the end of each year is based on higher of the following two:
 
 (i) Number of sub-licensing arrangements for which content has been
 provided. This will be computed based on total license fee divided by
 predefined number of sub licensing arrangements.
 
 (ii) Number of years of license period already expired. This will be
 computed based on total license fee divided by fixed period of
 licensing contract.
 
 In respect of contracts where license fees is paid on the basis of
 period of usage, the license fees is charged in the respective periods.
 
 In respect of contracts where license fee is paid on the basis of per
 year per sub licensing arrangement, the entire cost of license for each
 of the sub-licensing arrangement is expensed at the time the revenue
 from sub licensing arrangement is recognized.
 
 (v) Fixed assets/ Depreciation & Amortization
 
 Fixed assets are stated at cost less accumulated depreciation and
 impairment loss, if any. Costs include all expenses incurred to bring
 the assets to its present location and condition for its intended use.
 
 Depreciation on tangible fixed assets is provided at the written down
 value method at the rates and in the manner prescribed in Schedule XIV
 to the Companies Act, 1956. Depreciation on addition to fixed assets is
 provided on pro-rata basis from the date the assets are ready to use.
 Depreciation on sale / deduction from fixed assets is provided for upto
 the date of sale, deduction, discardment as the case may be.
 
 Fixed assets purchased for utilization and implementing the contractual
 obligations under the project undertaken under Edureach (ICT), Turnkey
 and smartclass are depreciated on a straight-line basis over the period
 of contractual obligation generally ranging from 3-6 years depending
 upon the period of the contract.
 
 Leasehold improvements are amortized on the straight-line basis over
 the primary period of lease.
 
 Assets costing less than Rs.5,000 are fully depreciated in the year of
 purchase except in case of deployment as project assets (if any)
 
 Capital work-in-progress comprises of capital assets which are not yet
 put to use and also include outstanding advances paid to acquire fixed
 assets.
 
 Intangible Assets
 
 An Intangible asset is recognized, where it is probable that the future
 economic benefits attributable to the asset will flow to the enterprise
 and where its cost can be reliably measured.
 
 Intangible asset are stated at cost of acquisition less accumulated
 amortization. Amortization on the Intangible assets is provided on
 pro-rata basis on the straight-line method based on management''s
 estimate of useful life, i.e. 3 years for software, 4 years for
 Knowledge-based content including smartclass content. Licensed
 intangible assets are amortised over the period of license.
 
 Cost of an internally generated asset comprises all expenditure that
 can be directly attributed, or allocated on a reasonable and consistent
 basis, to create, produce and make the asset ready for its intended
 use.
 
 (vi) Impairment of Assets
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/ external
 factors. An impairment loss is recognized wherever the carrying amount
 of an asset exceeds its recoverable amount. The recoverable amount is
 higher of asset''s net selling price and value in use which means the
 present value of future cash flows expected to arise form the
 continuing use of the assets and its eventual disposal.  An Impairment
 loss is charged to the statement of profit & loss in the year in which
 an asset is impaired.
 
 After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life.
 
 (vii) Leases
 
 Operating lease
 
 As Lessee:
 
 Lease rentals in respect of operating lease arrangements including
 assets taken on operating lease are recognized as an expense in the
 statement of profit & loss on accrual basis.
 
 As Lessor:
 
 Lease rental income under operating lease are recognized in the Profit
 and Loss on a straight -line basis/ agreed terms over the period of
 lease as the case may be
 
 Finance lease
 
 Leases where the lessor effectively transfers substantially all the
 risks and benefits of ownership over the lease term are classified as
 finance lease. Assets taken on finance lease are capitalized at fair
 value or net present value of the minimum lease payments, whichever is
 lower. The principal component in the lease rental is adjusted against
 the lease liability and the interest component is charged to Profit and
 Loss account.
 
 (viii) Inventories
 
 Items of Inventories are measured at lower of cost and net realizable
 value after providing for obsolescence, if any. Cost of inventories
 comprises of cost of purchase, freight & other expenses incurred in
 bringing the inventories to their present location and condition. The
 cost is determined using the weighted average method.
 
 (ix) Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long-term investments.
 
 Long-term investments are stated at acquisition cost. Provision for
 diminution in the value of long-term investments is made only if such a
 decline is other than temporary. Current investments are valued at
 lower of cost and market rate on individual investment basis.
 
 Classification in the financial statements
 
 Investments that are realisable within the period of twelve months from
 the balance sheet date are classified as current investment. All other
 investments are classified as non-current investments.
 
 (x) Foreign exchange transactions
 
 a.  Foreign exchange transactions are recorded at the exchange rates
 prevailing at the date of transaction. Exchange differences arising on
 the settlement of monetary items or on restatement of the Company''s
 monetary items at rates different from those at which they were
 initially recorded during the year, or reported in previous financial
 statements, other than those relating to fixed assets & other long term
 assets are recognised as income or as expenses in the year in which
 they arise.
 
 b.  The Company has opted for accounting the exchange differences
 arising on the reporting of long term foreign currency monetary items
 in line with Companies (Accounting Standards) Second Amendment Rules
 2011 on Accounting Standard 11 as notified by the Central Government
 vide Notification dated 29th December, 2011. Accordingly, the effect of
 exchange difference on foreign currency loan (including FCCB) is
 accounted for by addition or deduction to the cost of the assets so far
 it relates to depreciable capital asset and in other cases by transfer
 to Foreign Currency Monetary Items Translation Difference
 Account(FCMITDA) to be amortized as provided in the aforesaid
 notification.
 
 (xi) Employee benefits
 
 (a) Short term employee benefits
 
 2. All employee benefits payable wholly within twelve months of
 rendering the service are classified as Short term employee benefits.
 Benefits such as salaries, wages, and bonus etc are recognized in the
 Profit and Loss Account in the period in which the employee renders the
 related service. The employees are further entitled to sick leaves
 which cannot be encashed and will lapse at the end of the calendar
 year. The company is providing provision for such employee benefits on
 the basis of its best estimate.
 
 (a) Long term employee benefits
 
 (i) Defined contribution plan
 
 Contributions to provident fund, labour welfare fund and ESI are
 deposited with the appropriate authorities and charged to the statement
 of profit & loss on accrual basis. The Company has no further
 obligations under these plans beyond its monthly contributions.
 
 (ii) Defined benefit plan
 
 Leave encashment- The Company has provided for the liability at the
 year end on account of unavailed earned leave as per the actuarial
 valuation as per the Projected Unit Credit method in accordance with
 Accounting Standard 15, Employee benefits. All actuarial gains/losses
 are charged to the statement of profit & loss in the year these arise.
 
 Gratuity- The Company provides for retirement benefits in the form of
 Gratuity. The Company''s gratuity plan is a defined benefit plan. The
 present value of gratuity obligation under such defined plan is
 determined based on an actuarial valuation carried out by an
 independent actuary using the Projected Unit Credit Method, which
 recognizes each period of service as giving rise to additional unit of
 employee benefit entitlement and measures each unit separately to build
 up the final obligation. The obligation is measured at the present
 value of the estimated future cash flows. The discount rate used for
 determining the present value of the obligation under the defined
 benefit plans, is based on the market yields on Government securities
 as at the valuation date having maturity periods approximating to the
 terms of the related obligations. Actuarial gains and losses are
 recognized immediately in the statement of profit & loss.
 
 (b) Employee stock option scheme
 
 The stock options are accounted as per the accounting treatment
 prescribed by the employee stock option scheme and Employee Stock
 Purchase Guidelines, 1999 issued by Securities Exchange Board of India,
 whereby the intrinsic value of the option being, excess of market value
 of the underlying share immediately prior to the date of award over its
 exercise price is recognized as deferred employee compensation with a
 credit to Employee stock options outstanding account. The deferred
 employee compensation is charged to statement of profit & loss on
 straight line basis over the vesting period of the option. The balance
 in employee stock option outstanding account net of any unamortized
 deferred employee compensation is shown separately as part of
 shareholders fund.
 
 (ii) Borrowing cost
 
 Borrowing costs are determined in accordance with the provisions of AS
 16. Borrowing costs that are attributable to the acquisition or
 construction of qualifying assets are capitalized as part of the cost
 of such assets. A qualifying asset is one that necessarily takes
 substantial period of time to get ready for intended use. All other
 borrowing costs are charged to revenue.
 
 (iii) Provision for tax
 
 Tax expense for the year comprises current and deferred is included in
 determining the net profit for the year.
 
 Provision for current tax is based on the tax liabilities computed in
 accordance with the provisions of the Income Tax Act, 1961.
 
 Deferred Tax expense or benefit is recognized on timing difference
 between accounting and taxable income that originates in one year and
 is capable of reversal in one or more subsequent period. Deferred tax
 assets and liabilities are measured using the tax rates and laws that
 have been substantively enacted by the balance sheet date.
 
 The Deferred tax assets are recognized only to the extent there is
 reasonable certainty that sufficient future taxable income will be
 available against which these assets can be realized in future where as
 in cases of existence of carry forward of losses or unabsorbed
 depreciation, deferred tax assets are recognized only if there is
 virtual certainty of realization backed by convincing evidence.
 Deferred tax assets are reviewed at each Balance Sheet date and are
 written-down or written-up to reflect the amount that is reasonably /
 virtually certain (as the case may be) to be realized.
 
 Minimum Alternative Tax (MAT) credit assets is recognized in the
 balance sheet where it is likely that it will be adjusted against the
 discharge of tax liability in future under the Income Tax Act, 1961.
 
 (iv) Provision, Contingent Liabilities and Contingent Assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 notes. Contingent assets are neither recognized nor disclosed in the
 financial statements.
 
 (iv) Earning per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the year attributable to equity shareholders after tax by the
 weighted average number of equity shares outstanding during the year.
 The weighted average number of equity shares outstanding during the
 period, are adjusted for events of bonus issued to existing
 shareholders.
 
 For the purpose of calculating diluted earning per share, the net
 profits or loss attributable to equity shareholders and the weighted
 average number of shares outstanding are adjusted for the effects of
 all dilutive potentia equity shares, if any.
 
 (v) Cash Flow Statement
 
 Cash flows are reported using the indirect method, whereby net profits
 before tax is adjusted for the effect of transaction of non-cash nature
 and any deferrals or accruals of past or future cash receipts or
 payments.  The cash flows from regular revenue generating, investing
 and financing activities are segregated.
 
 (vi) Cash and cash equivalents
 
 Cash and cash equivalents include cash in hand, demand deposits with
 banks, other short term highly liquid investments with original
 maturities of three months or less.
 
 (vii) Material Events
 
 Material Events occurring after the Balance Sheet date are taken into
 cognizance.