Mar 31, 2015
1.1 Accounting estimate:
The preparation of financial statements in conformity with the
generally accepted accounting principles in India (Indian GAAP)
requires management to make estimates and assumptions that effect the
reported amounts of Asset and liabilities and the disclosure of
contingent liabilities on the date of the financial statements. Actual
results could differ from those estimates. Any revision to accounting
estimates is prospectively recognized in current and future periods.
1.2 Fixed Assets:
Fixed assets existing as on 31.03.1993 have been revalued as per the
report of Government Approved Valuer. The revalued assets are stated
at the revalued figure less accumulated depreciation calculated on the
revalued figure for the year ended on 31.03.1993 and subsequent year.
The assets acquired after 31.03.1993 are stated at the cost of
acquisition including incidental expenses related to acquisition &
installation less accumulated depreciation except for lease hold land.
1.3 Depreciation:
Depreciation on fixed assets is provided on straight line method at
the rates prescribed in Schedule - XIV of the Companies Act, 1956
pro-rata for the period the assets has been put to use.
1.4 Impairment of Assets:
Pursuant to Accounting Standard (AS-28) - Impairment of Assets issued
the Institute of Chartered Accountants of India, the carrying amounts
ofthe Company's assets including intangible assets are reviewed at
each Balance Sheet date to determine whether there is any indication
of impairment. If any such indication exists, the assets recoverable
amount is estimated, as higher of the net selling price and the value
in use. An impairment loss is recognized whenever the carrying amount
of an asset exceeds its recoverable amount. If at the Balance Sheet
date, there is indication that a previously assessed impairment loss
no longer exists, the recoverable amount is reassessed and the asset
is assessed at the recoverable amount subject to maximum of
depreciable historical cost.
1.5 Earnings Per Share (EPS)
The basic EPS is computed by dividing the net profit attributable to
the equity shareholders for the year by the weighted average number of
equity shares outstanding during the year.
1.6 Provision and Contingencies:
A provision is recognized when there is present obligation as a result
of past event and it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable
estimate can be made.
These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimate.
A disclosure for a contingent liability is made when there is a
possible or present obligation that may, but probably will not require
an outflow of resource. When there is a possible obligation in respect
of which the likelihood of outflow of resources is remote, no
provision or disclosure is made.
1.7 Borrowing Costs:
Borrowing Costs are charged to Profit & Loss account except those
which attributed to the acquisition or construction of qualifying
assets.
Mar 31, 2014
Note : 1
1 Basis of preparation
The financial statements are prepared under the historical cost
convention on the accrual basis of accounting, in accordance with the
Indian Generally Accepted Accounting Principles (GAAP) and company with
the accounting standards, as prescribed by the companies (Accounting
Standards) Rules, 2006, and provisions of the Companies Act, 1956, to
the extent applicable, as adopted consistently by the company. The
Financial Statements have been prepared in indian rupees.
Note : 2
The Financial statements for the year ended March 31, 2014 had been
prepared as per the then applicable, pre-revised schedules VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31 March, 2014 are prepared as per Revised Schedule VI.
Accordingly, the previous year figure have also been reclassified to
confirm to this year''s classification. Such reclassification of
previous year figure does not impact recognition and measurement
principles followd for preparation of financial statements.
Note : 3
NOTES ON ACCOUNTS
3.1 Accounting estimate:
The preparation of financial statements in conformity with the
generally accepted accounting principles in india (Indian GAAP)
requires management to make estimates and assumptions that effect the
reported amounts of Asset and liabilities and the discloure of
contingent liabilities on the date of the financial statements. Actual
results could differ from those estimates. Any revision to accounting
estimates is prospectively recognized in current and future periods.
3.2 Fixed Assets:
Fixed assets existing as on 31.03.1993 have been revalued as per the
report of Government Approved Valuer. The revalued assets are stated
at the revalued figure less accumulated depreciation calculated on the
revalued figure for the year ended on 31.03.1993 and subsequent year.
The assets acquried after 31.03.1993 are stated at the cost of
acquisiion including incidental expenses related to acquisition &
installation less accumulated depreciation except for lease hold land.
3.3 Depreciation:
Depreciation on fixed assets is provided on straight line method at the
rates prescribed in Schedule - XIV of the Companies Act, 1956 pro-rata
for the period the assets has been put to use.
3.4 Impairment of Assets:
Pursuant to Accounting Standard (AS-28) - Impairment of Assets issued
the Institute of Chartered Accountants of India, the carrying amounts
of the Company''s assets including intangible assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the assets recoverable
amount is estimated, as higher of the net selling price and the value
in use. An impairment loss is recognized whenever the carrying amount
of an asset exceeds its recoverable amount. If at the Balance Sheet
date, there is indication that a previously assessed impairment loss no
longer exists, the recoverable amount is reassessed and the asset is
assessed at the recoverable amount subject to maximum of depreciable
historical cost.
3.5 Earnings Per Share (''EPS'')
The basic EPS is computed by dividing the net profit attributable to
the equity shareholders for the year by the weighted average number of
equity shares outstanding during the year.
3.6 Provision and Contingencies:
A provision is recognized when there is present obligation as a result
of past event and it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable
estimate can be made.
These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimate.
A discloure for a contingent liability is made when there is a possible
or present obligation that may, but probably will not require an
outflow of resource. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made.
3.7 Borrowing Costs:
Borrowing Costs are charged to Profit & Loss account except those which
attributed to the acquisition or construction of qualifyling assets.
Mar 31, 2013
1.1 Accounting estimate:
The preparation of financial statements in conformity with the
generally accepted accounting principles in india (Indian GAAP)
requires management to make estimates and assumptions that effect the
reported amounts of Asset and liabilities and the discloure of
contingent liabilities on the date of the financial statements. Actual
results could differ from those estimates. Any revision to accounting
estimates is prospectively recognized in current and future periods.
1.2 Fixed Assets:
Fixed assets existing as on 31.03.1993 have been revalued as per the
report of Government Approved Valuer. The revalued assets are stated
at the revalued figure less accumulated depreciation calculated on the
revalued figure for the year ended on 31.03.1993 and subsequent year.
The assets acquried after 31.03.1993 are stated at the cost of
acquisiion including incidental expenses related to acquisition &
installation less accumulated depreciation except for lease hold land.
1.3 Depreciation:
Depreciation on fixed assets is provided on straight line method at the
rates prescribed in Schedule - XIV of the Companies Act, 1956 pro-rata
for the period the assets has been put to use.
1.4 Impairment of Assets:
Pursuant to Accounting Standard (AS-28) - Impairment of Assets issued
the Institute of Chartered Accountants of India, the carrying amounts
of the Company''s assets including intangible assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the assets recoverable
amount is estimated, as higher of the net selling price and the value
in use. An impairment loss is recognized whenever the carrying amount
of an asset exceeds its recoverable amount. If at the Balance Sheet
date, there is indication that a previously assessed impairment loss no
longer exists, the recoverable amount is reassessed and the asset is
assessed at the recoverable amount subject to maximum of depreciable
historical cost.
1.5 Earnings Per Share (''EPS'')
The basic EPS is computed by dividing the net profit attributable to
the equity shareholders for the year by the weighted average number of
equity shares outstanding during the year.
1.6 Provision and Contingencies:
A provision is recognized when there is present obligation as a result
of past event and it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable
estimate can be made.
These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimate.
A discloure for a contingent liability is made when there is a possible
or present obligation that may, but probably will not require an
outflow of resource. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made.
1.7 Borrowing Costs:
Borrowing Costs are charged to Statement of Profit & Loss except those
which attributed to the acquisition or construction of qualifyling
assets.
Mar 31, 2012
1.1 Accounting estimate:
The preparation of financial statements in conformity with the
generally accepted accounting principles in India (Indian GAAP)
requires management to make estimates and assumptions that effect the
reported amounts of Asset and liabilities and the disclosure of
contingent liabilities on the date of the financial statements. Actual
results could differ from those estimates. Any revision to accounting
estimates is prospectively recognized in current and future periods.
1.2 Fixed Assets:
Fixed assets existing as on 31.03.1993 have been revalued as per the
report of Government Approved Valuer. The revalued assets are stated at
the revalued figure less accumulated depreciation calculated on the
revalued figure for the year ended on 31.03.1993 and subsequent year.
The assets acquired after 31.03.1993 are stated at the cost of
acquisition including incidental expenses related to acquisition &
installation less accumulated depreciation except for lease hold land.
1.3 Depreciation:
Depreciation on fixed assets is provided on straight line method at the
rates prescribed in Schedule - XIV of the Companies Act, 1956 pro-rata
for the period the assets has been put to use.
1.4 Impairment of Assets:
Pursuant to Accounting Standard (AS-28) - Impairment of Assets issued
the Institute of Chartered Accountants of India, the carrying amounts
of the Company's assets including intangible assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the assets recoverable
amount is estimated, as higher of the net selling price and the value
in use. An impairment loss is recognized whenever the carrying amount
of an asset exceeds its recoverable amount. If at the Balance Sheet
date, there is indication that a previously assessed impairment loss no
longer exists, the recoverable amount is reassessed and the asset is
assessed at the recoverable amount subject to maximum of depreciable
historical cost.
1.5 Earnings Per Share ('EPS')
The basic EPS is computed by dividing the net profit attributable to
the equity shareholders for the year by the weighted average number of
equity shares outstanding during the year.
1.6 Provision and Contingencies:
A provision is recognized when there is present obligation as a result
of past event and it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable
estimate can be made.
These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimate. A discloure for a contingent liability is
made when there is a possible or present obligation that may, but
probably will not require an outflow of resource. When there is a
possible obligation in respect of which the likelihood of outflow of
resources is remote, no provision or disclosure is made.
1.7 Borrowing Costs:
Borrowing Costs are charged to Profit & Loss account except those which
attributed to the acquisition or construction of qualifyling assets.
Mar 31, 2011
The accounts are prepared and presented in accordance with the
Generally Accepted accounting Principles and are in line with the
relevant laws as well as the guidelines prescribed by the Department of
Company Affairs, Ministry of Industry and Accounting Standards ("AS")
issued by the Institute of Chartered Accountants of India ('ICAI') and
notified by the Companies Accounting Standard Rules, 2006 to the extend
applicable.
1.1 Basis of Accounting : The financial statements are prepared under
the historical cost convetion. The company follows the mercantile
system of accounting and recognizes income and expenditure on the
accrual basis except those with significant uncertainities.
1.2 Accounting estimate : The preparation of financial statements in
conformity with the generally accepted accounting principles in India
(Indian GAAP) requires management to make estimate and assumptions that
effect the reported amounts of Asset and liabilities and the disclosure
of contingent liablities on the date of the financial statements.
Actual results could differ from those estimates. Any revision to
accounting estimates is prospectively recognized in current and future
periods.
1.3 Fixed Asstes : Fixed assets existing as on 31.03.1993 have been
revalued as per the report of government approved valuer. The revalued
assets are stated at the revalued figure less accumulated depreciation
calculated on the revalued figure for the year ended on 31.03.1993 and
subsequent year. The assets acquried after 31.03.1993 are stated at the
cost of acquisiion including incicdental expenses related to acuisition
& installation less accumulated depreciation except for free hold land.
1.4 Depreciation : Depreciation on fixed assets is provided on straight
line method at the rates prescribed in Schedule - XIV of the Companies
Act, 1956 pro-rata for the period the assets has been put to use.
1.5 Investments : Investments that are readily realizable and intended
to be held for not more than twelve months are classified as current
investments. All other investments are classified as long term
investments.
Long term investments are stated at cost less any other non temporary
diminution in value, determined separately for each individual
investment. Current investments are carried at lower of cost and fair
value. The comparison of cost and fair value is done separately in
respect of each category of investments.
1.6 Impairment of Assets : Pursuant to Accounting Standard (AS-28) -
Impairment of Assets issued the Institute of Chartered Accountants of
India, the carrying amounts of the Company's assets including
intangible assets are reviewed at each Balance Sheet date to determine
whether there is any indication of impairment. If any such indication
exists, the assets recoverable amount is estimated, as higher of the
net selling price and the value in use. An impairment loss is
recognized whenever the carrying amount of an asset exceeds its
recoverable amount. If at the Balance Sheet date, there is indication
that a previously assessed impairment loss no longer exists, the
recoverable amount is reassessed and the asset is assessed at the
recoverable amount subject to maximum of depreciable historical cost.
1.7 Earnings Share ('EPS') : The basic EPS is computed by dividing the
net profit attributable to the equity shareholders for the year by the
weighted average number of equity shares outstanding during the year.
1.8 Provision and Contingencies : A provision is recognized when there
is present obligation as a result of past event and it is probable that
an outflow of resources will be required to settle the obligation, in
respect of which a reliable estimate can be made. These are reviewed at
each Balance Sheet date and adjusted to reflect the current best
estimate.
A disclosure for a contingent liability is made when there is a
possible or present obligation that may, but probably will not require
an outflow of resource. When there is a possible obligation in respect
of which the likelihood of outflow of resources is remote, no provision
or disclosure is made.
1.9 Borrowing Costs : Borrowing Costs are charged to Profit & Loss
Account except those which attributed to the acquisition or
construction of qualifying assets.
Mar 31, 2010
The accounts are prepared in accordance with the accounting principles
generally accepted in India and are in line with the relevant Laws as
well as the guidelines prescribed by the department ol Company affairs,
Ministry of Industry and the Institute of Chartered Accountants of
India :
i) Basis of Accounting
The financial statements are prepared under the historical coat
convetion on accrual basis.
ii) Fixed Asstes
Fixed assets existing as on 31.03.1993 have been revalued as per the
report of government approved valuer. The revalued assets are stated at
the revalued figure less accumulated depreciation calculated on the
revalued figure for the year ended on 31.03.1993 and subsequent year.
The assets acquried after 31.03.1993 are stated at the cost of
acquisiion including incicdental expenses related to acuisition S
installation less accumulated depreciation except for free hold land.
iii) Depreciation
Depreciation on fixed assets is provided on straight line method at the
rates prescribed in Schedule - XIV of the Companies Act, 1956 pro-rata
for the period the assets has been put to use.
iv) Investment
Investments are stated at cost.
v) Inventories
1. Inventories are valued at the lower of cost or net realisable value
except [or a stock of Raw Material, Packing Material, Stores S Spares
which are valued at cost.
2. No provision for Income Tax has been made in view of carried
forward losses.
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