Mar 31, 2015
1.1 BASIS OF PREPARATION OF ACCOUNTS
(a) The financial statements have been prepared and presented to comply
with the historical cost conventions in accordance with the Indian
Generally Accepted Accounting Principles (GAAP), the Accounting
Standards notified under notified under the Companies (Accounting
Standards ) Rules, 2014 and the relevant provisions of the Companies
Act, 2013 and on the basis of going concern.
(b) All the incomes & expenditures are recognized on accrual basis.
1.2 USE OF ESTIMATES
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and estimates are recognized in the period
in which the results are known/materialized.
1.3 FIXED ASSETS AND DEPRECIATION
(a) Fixed Assets have been stated at original cost, inclusive of inward
freight, incidental expenses related to acquisition, financing cost
till commencement of commercial production and related pre-operative
expenses, less depreciation, while arriving at original cost.
(b) Depreciation is provided on straight line method based on useful
life of the assets as prescribed in Schedule II to the Companies Act,
2013
1.4 IMPAIRMENT OF ASSETS
An asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to the Statement
of Profit and Loss in the year in which asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
1.5 ACCOUNTING FOR GOVERNMENT GRANTS
Government Grants related to specific fixed assets are accounted for on
receipt basis. Grants received are deducted from the gross value of
fixed assets concerned in arriving at their book value.
Grants related to specific expense are booked on accrual basis and
deducted from the related expense.
1.6 BORROWING COSTS
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to the statement of Profit and Loss.
1.7 FOREIGN CURRENCY TRANSACTIONS
(a) Foreign currency transactions are recorded on initial recognition
at the rate prevailing on the date of the transaction.
(b) Foreign currency monetary items are reported using the closing
rate. Exchange differences arising on the settlement of monetary items
or on reporting the same at the closing rate as at the -balance sheet
date are recognized as income or expense in the period in which they
arise except in the case of liabilities incurred for the purpose of
acquiring the fixed assets from outside India in which such exchange
differences are adjusted in the carrying amount of fixed assets.
(c) The premium or discount arising at the inception of forward
exchange contracts is amortised as an expense or income over the life
of the contract. Exchange difference on such a contract is recognized
in the statement of profit and loss in the reporting period in which
the exchange rates change. Profit or Loss arising on cancellation or
renewal of such contracts is recognized as income or expense in the
period in which such profit or loss arises.
1.8 INVENTORIES
Inventories are valued at cost or market value whichever is lower, as
certified by the management.
1.9 REVENUE RECOGNITION
Revenue is recognized to the extent that it can be reliably measured
and is probable that the economic benefits will flow to the Company.
Dividend income is recognized as and when the right to receive is
established.
1.10 INVESTMENTS
- Investments that are readily realizable 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. Current
Investments are carried at lower of cost and fair value determined on
an individual investment basis. Long term investments are stated at
cost, diminution in the value of long term investments is provided only
when decline is other than temporary, in the opinion of the management.
1.11 ACCOUNTING FOR TAXES ON INCOME
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
The deferred tax charge or credit and the corresponding deferred tax
liabilities or assets are recognized using the tax rates, that have
been enacted by the balance sheet date. Deferred tax assets are
recognized only to the extent there is reasonable certainty that the
assets can be realized in future. Deferred tax assets and liabilities
are reviewed at each balance sheet date and are restated to reflect the
amount that is reasonably certain to be released/ payable.
1.12 LEASES
Leases, where the lessor retains substantially all the risks and
benefits of the ownership of the leased item are classified as
operating leases. Lease rentals for assets taken on operating lease are
charged to the statement of profit and loss in accordance with
Accounting Standard 19 on leases.
1.13 EMPLOYEE BENEFITS
Employee benefits payable fully within twelve months of rendering the
service are classified as short term employee benefits and are
recognized in the period in which the employee renders the related
service.
1.14 PROVISIONS, 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.
1.15 EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of equity shares outstanding during the
year are adjusted for the effects of all dilutive potential equity
shares.
1.16 MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off over a period of 5 years.
Mar 31, 2014
1.1 BASIS OF PREPARATION OF ACCOUNTS
(a) The financial statements have been prepared and presented to comply
with the historical cost conventions in accordance with the Indian
Generally Accepted Accounting Principles (GAAP), mandatory Accounting
Standards referred to in the Companies (Accounting Standards ) Rule,
2006 issued by the Central Government in exercise the power conferred
under sub-section (1) (a) of section 642 read with sub section (3C) of
section 211 and sub section (1) of section 210A to the extent
applicable and the provisions of The Companies Act, 1956 and on the
basis of going concern.
(b) All the incomes & expenditures are recognized on accrual basis.
1.2 USE OF ESTIMATES
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and estimates are recognized in the period
in which the results are known/ materialized.
1.3 FIXED ASSETS AND DEPRECIATION
(a) Fixed Assets have been stated at original cost, inclusive of inward
freight, incidental expenses related to acquisition, financing cost
till commencement of commercial production and related pre-operative
expenses, less depreciation, while arriving at original cost.
(b) Depreciation on Fixed Assets has been provided on straight line
method as per rates prescribed under Schedule XIV to the Companies Act
1956.
1.4 IMPAIRMENT OF ASSETS
An asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to the Statement
of Profit and Loss in the year in which asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
1.5 ACCOUNTING FOR GOVERNMENT GRANTS ,
Government Grants related to specific fixed assets are accounted for on
receipt basis. Grants received are deducted from the gross value of
fixed assets concerned in arriving at their book value.
Grants related to specific expense are booked on accrual basis and
deducted from the related expense.
1.6 BORROWING COSTS
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to the statement of Profit and Loss.
1.7 FOREIGN CURRENCY TRANSACTIONS
(a) Foreign currency transactions are recorded on initial recognition
at the rate prevailing on the date of the transaction.
(b) Foreign currency monetary items are reported using the closing
rate. Exchange differences arising on the settlement of monetary items
or on reporting the same at the  closing rate as at the balance
sheet date are recognized as income or expense in the period in which
they arise except in the case of liabilities incurred for the purpose
of acquiring the fixed assets from outside India in which such exchange
differences are adjusted in the carrying amount of fixed assets.
(c) The premium or discount arising at the inception of forward
exchange contracts is amortised as an expense or income over the life
of the contract. Exchange difference on such a contract is recognized
in the statement of profit and loss in the reporting period in which
the exchange rates change. Profit or Loss arising on cancellation or
renewal of such contracts is recognized as income or expense in the
period in which such profit or loss arises.
1.8 INVENTORIES
Inventories are valued at cost or market value whichever is lower, as
certified by the management.
1.9 REVENUE RECOGNITION
Revenue is recognized to the extent that it can be reliably measured
and is probable that the economic benefits will flow to the Company.
Dividend income is recognized as and when the right to receive is
established.
1.10 INVESTMENTS
Investments that are readily realizable 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. Current
Investments are carried at lower of cost and fair value determined on
an individual investment basis. Long term investments are stated at
cost, diminution in the value of long term investments is provided only
when decline is other than temporary, in the opinion of the management.
1.11 ACCOUNTING FOR TAXES ON INCOME
Provision for current tax is made after talcing into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
The deferred tax charge or credit and the corresponding deferred tax
liabilities or assets are recognized using the tax rates that have been
enacted by the balance sheet date. Deferred tax assets are recognized
only to the extent there is reasonable certainty that the assets can be
realized in future. Deferred tax assets and liabilities are reviewed at
each balance sheet date and are restated to reflect the amount that is
reasonably certain to be released/ payable.
1.12 LEASES
Leases, where the lessor retains substantially all the risks and
benefits of the ownership of the leased item are classified as
operating leases. Lease rentals for assets taken on operating lease are
charged to the statement of profit and loss in accordance with
Accounting Standard 19 on-leases.
1.13 EMPLOYEE BENEFITS
Employee benefits payable fully within twelve months of rendering the
service are classified as short term employee benefits and are
recognized in the period in which the employee renders the related
service.
1.14 PROVISIONS, 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. .
1.15 EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. , For
the purpose of calculating diluted earnings per share, the net profit
or loss for the period attributable to equity shareholders and the
weighted average number of equity shares outstanding during the year
are adjusted for the effects of all dilutive potential equity shares.
1.16 MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off over a period of 5 years.
Mar 31, 2013
1.1 BASIS OF PREPARATION OF ACCOUNTS
(a) The financial statements have been prepared and presented to comply
with the historical cost conventions in accordance with the Indian
Generally Accepted Accounting Principles (GAAP), mandatory Accounting
Standards referred to in the Companies (Accounting Standards ) Rule,
2006 issued by the Central Government in exercise the power conferred
under sub-section (1) (a) of section 642 read with sub section (3C) of
section 211 and sub section (1) of section 210A to the extent
applicable and the provisions of The Companies Act, 1956 and on the
basis of going concern.
(b) All the incomes & expenditures are recognized on accrual basis.
1.2 USE OF ESTIMATES
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and estimates are recognized in the period
in which the results are known/ materialized.
1.3 FIXED ASSETS AND DEPRECIATION
(a) Fixed Assets have been stated at original cost, inclusive of inward
freight, incidental expenses related to acquisition, financing cost
till commencement of commercial production and related pre-operative
expenses, less depreciation, while arriving at original cost.
(b) Depreciation on Fixed Assets has been provided on straight line
method as per rates prescribed under Schedule XIV to the Companies Act
1956.
1.4 IMPAIRMENT OF ASSETS
An asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to the Statement
of Profit and Loss in the year in which asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
1.5 ACCOUNTING FOR GOVERNMENT GRANTS
Government Grants related to specific fixed assets are accounted for on
receipt basis. Grants received are deducted from the gross value of
fixed assets concerned in arriving at their book value.
Grants related to specific expense are booked on accrual basis and
deducted from the related expense.
1.6 BORROWING COSTS
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to the statement of Profit and Loss.
1.7 FOREIGN CURRENCY TRANSACTIONS
(a) Foreign currency transactions are recorded on initial recognition
at the rate prevailing on the date of the transaction.
(b) Foreign currency monetary items are reported using the closing
rate. Exchange differences arising on the settlement of monetary items
or on reporting the same at the closing rate as at the balance sheet
date are recognized as income or expense in the period in which they
arise except in the case of liabilities incurred for the purpose of
acquiring the fixed assets from outside India in which such exchange
differences are adjusted in the carrying amount of fixed assets.
(c) The premium or discount arising at the inception of forward
exchange contracts is amortised as an expense or income over the life
of the contract. Exchange difference on such a contract is recognized
in the statement of profit and loss in the reporting period in which
the exchange rates change. Profit or Loss arising on cancellation or
renewal of such contracts is recognized as income or expense in the
period in which such profit or loss arises.
1.8 INVENTORIES
Inventories are valued at cost or market value whichever is lower, as
certified by the management.
1.9 REVENUE RECOGNITION
Revenue is recognized to the extent that it can be reliably measured
and is probable that the economic benefits will flow to the Company.
Dividend income is recognized as and when the right to receive is
established.
1.10 INVESTMENTS
Investments that are readily realizable 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. Current
Investments are carried at lower of cost and fair value determined on
an individual investment basis. Long term investments are stated at
cost, diminution in the value of long term investments is provided only
when decline is other than temporary, in the opinion of the management.
1.11 ACCOUNTING FOR TAXES ON INCOME
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
The deferred tax charge or credit and the corresponding deferred tax
liabilities or assets are recognized using the tax rates that have been
enacted by the balance sheet date. Deferred tax assets are recognized
only to the extent there is reasonable certainty that the assets can be
realized in future. Deferred tax assets and liabilities are reviewed at
each balance sheet date and are restated to reflect the amount that is
reasonably certain to be released/ payable.
1.12 LEASES
Leases, where the lessor retains substantially all the risks and
benefits of the ownership of the leased item are classified as
operating leases. Lease rentals for assets taken on operating lease are
charged to the statement of profit and loss in accordance with
Accounting Standard 19 on leases.
1.13 EMPLOYEE BENEFITS
Employee benefits payable fully within twelve months of rendering the
service are classified as short term employee benefits and are
recognized in the period in which the employee renders the related
service.
1.14 PROVISIONS, 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.
1.15 EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period;
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of equity shares outstanding during the
year are adjusted for the effects of all dilutive potential equity
shares.
1.16 MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off over a period of 5 years.
Mar 31, 2011
BASIS OF PREPARATION OF ACCOUNTS
The Financial Statements have been prepared on the basis of going
concern under the historical cost convention and accrual basis, to
comply in all material aspect with the applicable accounting principle
in India, the Accounting Standard issued by the Institute of Chartered
Accountants of India and the relevant provision of Companies Act, 1956.
INCOME & EXPENDITURE ACCOUNT
All Income & Expenses have been accounted for on accrual basis as
informed by the management.
FIXED ASSETS
All Fixed Assets are stated at cost inclusive of legal and / or
installation and / or incidental expenses less depreciation.
Depreciation on Fixed Assets has been provided on straight line method
as per rates prescribed under Schedule XIV to the Companies Act 1956.
INVESTMENTS
Investments that are readily realizable 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. Current
Investments are carried at lower of cost and fair value determined on
an individual investment basis. Long term investments are stated at
cost, diminution in the value of long term investments is provided only
when decline is other than temporary in the opinion of the management.
INVENTORIES
Inventories are valued at cost or market value whichever is lower, as
certified by the management.
REVENUE RECOGNITION
Revenue is recognized to the extent that it can be reliably measured
and is probable that the economic benefits will flow to the Company.
ACCOUNTING FOR TAXES ON INCOME
The accounting treatment followed for taxes on income is to provide for
Current Tax and Deferred Tax. Current Tax is the aggregate amount of
Income Tax determined to be payable in respect of taxable income for a
period. Deferred tax is the tax effect of timing differences between
taxable income and accounting income that originate in one period and
are capable of reversal in one or more subsequent periods.
IMPAIRMENT OF ASSETS
At each Balance Sheet date an assessment is made whether any indication
exists that an asset has been impaired. If any such indication exists,
an impairment loss i.e. the amount by which the carrying amount of an
asset exceeds its recoverable amount is provided in the books of
accounts.
PROVISIONS AND CONTINGENT LIABILITIES
(i) Provisions are recognized for liabilities that can be measured by
using a substantial degree of estimation, if:
(a) the company has a present obligation as a result of past event.
(b) a probable outflow of resources embodying economic benefits is
expected to settle the obligation; and
(c) the amount of obligation can be reliably estimated
(ii) Contingent liability is disclosed in the case of:
(a) a present obligation arising from a past event when it is not
probable that an outflow of resources embodying economic benefits will
be required to settle the obligation or
(b) a possible obligation, unless the probability of outflow in
settlement is remote
FOREIGN CURRENCY TRANSACTIONS
1. Foreign currency transactions are recorded on initial recognition
at the rate prevailing on the date of the transaction.
2. Foreign currency monetary items are reported using the closing
rate. Exchange differences arising on the settlement of monetary items
or on reporting the same at the closing rate as at the balance sheet
date are recognized as income or expense in the period in which they
arise except in the case of liabilities incurred for the purpose of
acquiring the fixed assets from outside India in which such exchange
differences are adjusted in the carrying amount of fixed assets.
3. The premium or discount arising at the inception of forward
exchange contracts is amortised as an expense or income over the life
of the contract. Exchange difference on such a contract is recognized
in the statement of profit and loss in the reporting period in which
the exchange rates change. Profit or Loss arising on cancellation or
renewal of such contracts is recognized as income or expense in the
period in which such profit or loss arises.
BORROWING COSTS :
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of the asset. Other borrowing costs are recognized as
an expense in the period in which they are incurred.
Mar 31, 2010
BASIS OF PREPARATION OF ACCOUNTS
The Financial Statements have been prepared on the basis of going
concern under the historical cost convention and accrual basis, to
comply in all material aspect with the applicable accounting principle
in India, the Accounting Standard issued by the Institute of Chartered
Accountants oflndia and the relevant provision of Companies Act, 1956.
INCOME & EXPENDITURE ACCOUNT
All Income & Expenses have been accounted for on accrual basis as
informed by the management.
FIXED ASSETS
All Fixed Assets are slated at cost inclusive of legal and / or
installation and / or incidental expenses less depreciation.
Depreciation on Fixed Assets has been provided on straight line method
as per rates prescribed under Schedule XIV to the Companies Act 1956.
INVESTMENTS
Investments that are readily realizable 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. Current
Investments are carried at lower of cost and fair value determined on
an individual investment basis. Long term investments are stated at
cost, diminution in the value of long term investments is provided only
when decline is other than temporary in the opinion of the management.
INVENTORIES
Inventories are valued at cost or market value whichever is lower, as
certified by the management.
REVENUE RECOGNITION
Revenue is recognized to the extent that it can be reliably measured
and is probable that the economic benefits will flow to the Company.
ACCOUNTING FOR TAXES ON INCOME
The accounting treatment followed for taxes on income is to provide for
Current Tax and Deferred Tax. Current Tax is the aggregate amount of
Income Tax determined to be payable in respect of taxable income for a
period. Deferred tax is the tax effect of timing differences between
taxable income and accounting income that originate in one period and
are capable of reversal in one or more subsequent periods.
IMPAIRMENT OF ASSETS
At each Balance Sheet date an assessment is made whether any indication
exists that an asset has been impaired. If any such indication exists,
an impairment loss i.e. the amount by which the carrying amount of an
asset exceeds its recoverable amount is provided in the books of
accounts.
PROVISIONS AND CONTINGENT LIABILITIES
(i) Provisions are. recognized for liabilities that can be measured by
using a substantial degree of estimation, if:
(a) the company has a present obligation as a result of past event.
(b) a probable outflow of resources embodying economic benefits is
expected to settle the obligation; and
(c) the amount of obligation can be reliably estimated
(ii) Contingent liability is disclosed in the case of:
(a) a present obligation arising from a past event when it is not
probable that an outflow of resources embodying economic benefits will
be required to settle the obligation or
(b) a possible obligation, unless the probability of outflow in
settlement is remote
FOREIGN CURRENCY TRANSACTIONS
1. Foreign currency transactions are recorded on initial recognition
at the rate prevailing on the date of the transaction.
2. Foreign currency monetary items are reported using the closing
rate. Exchange differences arising on the settlement of monetary items
or on reporting the same at the closing rate as at the bah nce sheet
date are recognized as income or expense in the period in which they
arise except in the case of liabilities incurred for the purpose of
acquiring the fixed assets from outside India in which such exchange
differences are adjusted in the carrying amount of fixed assets.
3. The premium or discount arising at the inception of forward
exchange contracts is amortised as an expense or income over the life
of the contract. Exchange difference on such a contract is recognized
in the statement of profit and loss in the reporting period in which
the exchange rates change. Profit or Loss arising on cancellation or
renewal of such contracts is recognized as income or expense in the
period in which such profit or loss arises.
BORROWING COSTS :
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of the asset. Other borrowing costs are recognized as
an expense in the period in which they are incurred.
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