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Notes to Accounts of Ashapura Intimates Fashion Ltd.

Mar 31, 2016

III. NOTES TO ACCOUNTS:

1. SEGMENT REPORTING

Primary Segment Information

The primary segment reporting format is determined to be business segments as the company s risks and rates of return are affected predominantly by differences in the products and services produced. The Company solely deals in business segment of lounge wear. The entire operations are governed by the same set of risks and returns and hence, have been considered as representing a single primary segment.

Secondary Segment information

Secondary information is reported geographically. The Company has identified two segments "Domestic

Segment and Export Segment . Domestic

Segment represents sale of lounge wear in the Indian Markets and Export Segment represents sale of lounge wear globally except India.

2. FOREIGN CURRENCY TRANSACTIONS AND BALANCES

I. 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.

ii. Conversion

Foreign currency monetary items are retranslated using the exchange rate prevailing at the reporting date. Non-monetary items, which are measured 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 measured at fair value or other similar valuation denominated in a foreign currency, are translated using the exchange rate at the date when such value was determined.

iii. Exchange differences

The company accounts for exchange differences arising on translation/ settlement of foreign currency monetary items as below.

1. Exchange differences arising on a monetary item that, in substance, forms part of the company s net investment in a non-integral foreign operation is accumulated in the foreign currency translation reserve until the disposal of the net investment. On the disposal of such net investment, the cumulative amount of the exchange differences which have been deferred and which relate to that investment is recognized as income or as expenses in the same period in which the gain or loss on disposal is recognized.

2. Exchange differences arising on long-term foreign currency monetary items related to acquisition of a fixed asset are capitalized and depreciated over the remaining useful life of the asset. For this purpose, the company treats a foreign monetary item as "long-term foreign currency monetary item, if it has a term of 12 months or more at the date of its origination.

3. Exchange differences arising on other long-term foreign currency monetary items are accumulated in the "Foreign Currency Monetary Item Translation Difference Account and a mortised over the remaining life of the concerned monetary item.

4. All other exchange differences are recognized as income or as expenses in the period in which they arise.

3. UNHEDGED FOREIGN CURRENCY RESERVES

Particulars of unheeded foreign currency exposure as at the reporting date.

4.DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES:

The C classification of the suppliers under micro, small and medium enterprises Development Act 2006 is made on the basis of information made available to the company. No principal amount or interest amount remains unpaid to such Micro and Small enterprises as on M arch 31, 2016.Also, the company has not paid any interest in terms of section 16 of the above mentioned act or otherwise.

5. RELATED PARTY DISCLOSURE

(A) Related parties with who^ transactions have taken place during the year are as follows.

The Company s stake in Momai Apparels Limited amounts to 20.03%, and the control of the concern continues to be with Ashapura Intimates Fashion Limited


Mar 31, 2015

I. CORPORATE INFORMATION

Ashapura Intimates Fashion Limited (formerly known as Ashapura Apparels Pvt Ltd) is Limited Company incorporated under the Provisions of Companies Act, 1956. The Company is engaged in the Manufacturing, marketing, Designing & exporting of all kinds of Intimate wears. The company's registered office is in Mumbai.

SEGMENT REPORTING

Primary Segment Information

The primary segment reporting format is determined to be business segments as the company's risks and rates of return are affected predominantly by differences in the products and services produced. The Company solely deals in business segment of lounge wear. The entire operations are governed by the same set of risks and returns and hence, have been considered as representing a single primary segment.

Secondary Segment information

Secondary information is reported geographically. The Company has identified two geographical segments "Domestic Segment" and "Export Segment'. Domestic Segment represents sale of lounge wear in the Indian Markets and Export Segment represents sale of lounge wear globally except India.

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