Jun 30, 2014
I. Basis of preparation of Financial Statements:
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(''Indian GAAP''). The Company has prepared these financial statements
to comply in all material respects with the accounting standards
notified under the Companies (Accounting Standards) Rules, 2006, (as
amended) and the relevant provisions of the Companies Act, 1956. The
financial statements have been prepared on an accrual basis and under
the historical cost convention. The accounting policies adopted in the
preparation of financial statements are consistent with those of
previous year.
ii. Use of Estimates:
The preparation of financial statements requires the management of the
company to make estimates and assumptions that affect the reported
balance of Assets & Liabilities, revenue and expenses and disclosures
relating to the contingent liabilities. The management believes that
the estimates used in preparation of the financial statements are
prudent and reasonable. Future events could differ from these
estimates. Any revision of accounting estimates is recognised
prospectively in the current and future periods.
iii. Fixed Assets
Fixed Assets are stated at their original cost of acquisition or
construction including incidental expenses related to acquisition and
installation of the concerned assets.
When an asset is scrapped or otherwise disposed off, the cost and
related depreciation are removed from the books of account and
resultant profit or loss, if any, is reflected in the Profit and Loss
Account.
iv. Depreciation
Depreciation on fixed assets is provided on straight line method as per
Section 205 (2) (b) of the Companies Act, 1956 at the rates and in the
manner prescribed under Schedule XIV to the said Act.
The softwares are an integral part of hardware and accordingly
considered part of computers.
v. Impairment of Assets
The Company identifies impairable fixed assets based on cash generating
unit concept at the year-end in terms of Para 5 to 13 of AS-28 issued
by Institute of Chartered Accountants of India (ICAI) for the purpose
of arriving at impairment loss thereon, if any, being the difference
between the book value and recoverable value of relevant assets.
Impairment loss, when crystallized, is charged against revenue of the
year.
vi. Investments
Long term investments are stated at cost. Diminution in value, if any,
which is of a temporary nature, is not provided for.
vii. Inventories:
a) Inventories comprise all costs of purchase, conversion and other
costs incurred in bringing the inventories to their present location
and condition.
b) Raw Materials, Stores & Spare Parts, Packing Materials, Finished
Goods and Work-in-Progress are valued at lower of cost and net
realizable value.
c) Cost (net of input tax credit availed) of Raw Materials, Stores &
Spare Parts, Packing Materials & Finished Goods is determined on FIFO
basis.
d) Cost of Finished Goods and Work-in-Progress is determined by taking
raw material/packing material cost (net of input tax credit availed),
labour and relevant appropriate overheads.
viii. Foreign currency transactions
Transactions in foreign currencies are normally recorded at the
exchange rate prevailing on the date on which the transactions occur.
Outstanding balances of foreign currency monetary items are reported
using the period end rates.
Non-monetary items carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of
the transaction and non-monetary items which are carried at fair value
or other similar valuation denominated in a foreign currency are
reported using the exchange rate that existed when the values were
determined.
Exchange differences arising as a result of the above are recognised as
income or expense, as the case may be, in the profit and loss account.
ix. Sales
Revenue from sales of goods is being recognized on accrual basis on
transfer of ownership to the customers. The sales are stated net of
trade discounts, excise duty, sales returns and sales taxes. Revenue
from rendering of services is recognized on completion of service.
x. Leases
Lease rentals are accounted on accrual basis in accordance with the
terms of respective lease agreements.
xi. Research and Development
Revenue expenditure incurred on Research and Development is charged to
Profit & Loss Account in the year it is incurred.
Capital expenditure is included in the respective heads under fixed
assets.
xii. Retirement Benefits
a) Contributions to the Provident Fund are made at a pre-determined
rate and charged to the Profit & Loss Account.
b) Liability towards Gratuity and Leave Encashment is provided on the
basis of actuarial determination. Liability towards Superannuation is
provided in accordance with the scheme administered by Life Insurance
Corporation of India.
xiii. Borrowing Costs
Borrowing costs directly attributable to the acquisition or
construction of an asset are capitalized as part of the cost of that
asset, up to the date such assets are ready for their intended use.
Other borrowing/ financing costs are charged to the Profit & Loss
Account.
xiv. Taxation
Current tax is measured at the amount expected to be paid to the tax
authorities in accordance with the provisions of local Income tax as
applicable to the financial year.
Deferred income tax reflect the impact of current year timing
differences between taxable income and accounting income of the year
and reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates and tax laws enacted or substantively
enacted at the Balance Sheet date.
In case where the tax assessments have been completed but the appeals
are pending at various appeal fora, the tax payments have been set-off
against the provisions in the Balance Sheet. Appropriate disclosures
have been made towards contingent liabilities, if any
xv. Provisions and Contingent Liabilities
A provision is recognized when the Company has a present obligation as
a result of a past event. it is probable that an outflow of resources
will be required to settle the obligation, in respect of which reliable
estimates can be made.
Provisions are not discounted to its present value and are determined
based on best estimates required to settle the obligation at the
Balance Sheet date.
Jun 30, 2013
I. Basis of Accounting Policies: The financial statements have been
prepared under the historical cost convention on accrual basis in
accordance with the Companies (Accounting standards) Rules, 2006 issued
under sub-section (3C) of section 211 of the Companies Act, 1956.
ii. Use of Estimates: The preparation of financial statements requires
the management of the company to make estimates and assumptions that
affect the reported balance of assets & Liabilities, revenue and
expenses and disclosures relating to the contingent liabilities. The
management believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future events could
differ from these estimates. Any revision of accounting estimates is
recognised prospectively in the current and future periods.
iii. Fixed Assets: Fixed Assets are stated at their original cost of
acquisition or construction including incidental expenses related to
acquisition and installation of the concerned assets.
When an asset is scrapped or otherwise disposed off, the cost and
related depreciation are removed from the books of account and
resultant profit or loss, if any, is reflected in the Profit and Loss
Account.
iv. Depreciation: Depreciation on fixed assets is provided on straight
line method as per Section 205 (2) (b) of the Companies Act, 1956 at
the rates and in the manner prescribed under Schedule XIV to the said
Act. The software''s are an integral part of hardware and accordingly
considered part of computers.
v. Impairment of Assets: The Company identifies impairable fixed assets
based on cash generating unit concept at the year-end in terms of Para
5 to 13 of AS-28 issued by Institute of Chartered Accountants of India
(ICAI) for the purpose of arriving at impairment loss thereon, if any,
being the difference between the book value and recoverable value of
relevant assets. Impairment loss, when crystallized, is charged against
revenue of the year.
vi. Investments: Long term investments are stated at cost. Diminution
in value, if any, which is of a temporary nature, is not provided for.
vii. Inventories:
a) Inventories comprise all costs of purchase, conversion and other
costs incurred in bringing the inventories to their present location
and condition.
b) Raw Materials, Stores & Spare Parts, Packing Materials, Finished
Goods and Work-in-Progress are valued at lower of cost and net
realisable value.
c) Cost (net of input tax credit availed) of Raw Materials, Stores &
Spare Parts, Packing Materials & Finished Goods is determined on FIFO
basis.
d) Cost of Finished Goods and Work-in-Progress is determined by taking
raw material/packing material cost (net of input tax credit availed),
labor and relevant appropriate overheads.
viii. Foreign currency transactions: Transactions in foreign currencies
are normally recorded at the exchange rate prevailing on the date on
which the transactions occur.
Outstanding balances of foreign currency monetary items are reported
using the period end rates.
Non-monetary items carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of
the transaction and non-monetary items which are carried at fair value
or other similar valuation denominated in a foreign currency are
reported using the exchange rate that existed when the values were
determined.
Exchange differences arising as a result of the above are recognised as
income or expense, as the case may be, in the profit and loss account.
ix. Sales: Revenue from sales of goods is being recognized on accrual
basis on transfer of ownership to the customers. The sales are stated
net of trade discounts, excise duty, sales returns and sales taxes.
Revenue from rendering of services is recognized on completion of
service.
x. Leases : Lease rentals are accounted on accrual basis in accordance
with the terms of respective lease agreements.
xi. Research and Development: Revenue expenditure incurred on Research
and Development is charged to Profit & Loss Account in the year it is
incurred. Capital expenditure is included in the respective heads
under fixed assets.
xii. Retirement Benefits:
a) Contributions to the Provident Fund are made at a pre-determined
rate and charged to the Profit & Loss Account.
b) Liability towards Gratuity and Leave Encashment is provided on the
basis of actuarial determination. Liability towards Superannuation is
provided in accordance with the scheme administered by Life Insurance
Corporation of India.
xiii. Borrowing Costs: Borrowing costs directly attributable to the
acquisition or construction of an asset are capitalized as part of the
cost of that asset, up to the date such assets are ready for their
intended use. Other borrowing/ financing costs are charged to the
Profit & Loss Account.
xiv. Taxation: Current tax is measured at the amount expected to be
paid to the tax authorities in accordance with the provisions of local
Income tax as applicable to the financial year.
Deferred income tax reflect the impact of current year timing
differences between taxable income and accounting income of the year
and reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates and tax laws enacted or substantively
enacted at the Balance Sheet date.
In case where the tax assessments have been completed but the appeals
are pending at various appeal fora, the tax payments have been set-off
against the provisions in the Balance Sheet. Appropriate disclosures
have been made towards contingent liabilities, if any
xv. Provisions and Contingent Liabilities: A provision is recognized
when the Company has a present obligation as a result of a past event,
it is probable that an outflow of resources will be required to settle
the obligation, in respect of which reliable estimates can be made.
Provisions are not discounted to its present value and are determined
based on best estimates required to settle the obligation at the
Balance Sheet date.
A disclosure for a contingent liability is made when there is a
possible obligation or a present obligation that may, but probably will
not, require an outflow of resources. Where there is a possible or
present obligation in respect of which the likelihood of outflow of
resources is remote, no provision or disclosure is required.
Mar 31, 2012
I. Basis of Accounting Policies: The financial statements have been
prepared under the historical cost convention on accrual basis in
accordance with the Companies (Accounting standards) Rules, 2006 issued
under sub-section (3C) of section 211 of the Companies Act, 1956.
ii. Use of Estimates: The preparation of financial statements requires
the management of the company to make estimates and assumptions that
affect the reported balance of assets & Liabilities, revenue and
expenses and disclosures relating to the contingent liabilities. The
management believes that the estimates used in preparation of he
financial statements are prudent and reasonable. Future events could
differ from these estimates. Any revision of accounting estimates is
recognised prospectively in the current and future periods.
iii. Fixed Assets: Fixed Assets are stated at their original cost of
acquisition or construction including incidental expenses related to
acquisition and installation of the concerned assets.
When an asset is scrapped or otherwise disposed off, the cost and
related depreciation are removed from the books of account and
resultant profit or loss, if any, is reflected in the Profit and Loss
Account.
iv. Depreciation: Depreciation on fixed assets is provided on straight
line method as per Section 205 (2) (b) of the Companies Act, 1956 at
the rates and in the manner prescribed under Schedule XIV to the said
Act. The softwareÃs are an integral part of hardware and accordingly
considered part of computers.
v. Impairment of Assets: The Company identifies impairable fixed
assets based on cash generating unit concept at the year-end in terms
of Para 5 to 13 ofAS-28 issued by Institute of Chartered Accountants of
India (ICAI) for the purpose of arriving at impairment loss thereon, if
any, being the difference between the book value and recoverable value
of relevant assets. Impairment loss, when crystallized, is charged
against revenue of the year.
vi. Investments: Long term investments are stated at cost. Diminution
in value, if any, which is of a temporary nature, is not provided for.
vii. Inventories:
a) Inventories comprise all costs of purchase, conversion and other
costs incurred in bringing the inventories to their present location
and condition.
b) Raw Materials, Stores & Spare Parts, Packing Materials, Finished
Goods and Work-in-Progress are valued at lower of cost and net
realisable value.
c) Cost (net of input tax credit availed) of Raw Materials, Stores &
Spare Parts, Packing Materials & Finished Goods is determined on FIFO
basis.
d) Cost of Finished Goods and Work-in-Progress is determined by taking
raw material/packing material cost (net of input tax credit availed),
labour and relevant appropriate overheads.
viii. Foreign currency transactions: Transactions in foreign
currencies are normally recorded at the exchange rate prevailing on the
date on which the transactions occur. Outstanding balances of foreign
currency monetary items are reported using the period end rates.
Non-monetary items carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of
the transaction and non-monetary items which are carried at fair value
or other similar valuation denominated in a foreign currency are
reported using the exchange rate that existed when the values were
determined.
Exchange differences arising as a result of the above are recognised as
income or expense, as the case may be, in the profit and loss account.
ix. Sales: Revenue from sale of goods is being recognized on accrual
basis on transfer of ownership to the customers. The sales are stated
net of trade discounts, excise duty, sales returns and sales taxes.
Revenue from rendering of services are recognized on completion of
service.
x. Leases: Lease rentals are accounted on accrual basis in accordance
with the terms of respective lease agreements.
xi. Research and Development: Revenue expenditure incurred on Research
and Development is charged to Profit & Loss Account in the year it is
incurred. Capital expenditure is included in the respective heads under
fixed assets.
xii. Retirement Benefits:
a) Contributions to the Provident Fund are made at a pre-determined
rate and charged to the Profit & Loss Account.
b) Liability towards Gratuity and Leave Encashment is provided on the
basis of actuarial determination. Liability towards Superannuation is
provided in accordance with the scheme administered by Life Insurance
Corporation of India.
xiii. Borrowing Costs: Borrowing costs directly attributable to the
acquisition or construction of an asset are capitalized as part of the
cost of that asset, up to the date such assets are ready for their
intended use. Other borrowing/ financing costs are charged to the
Profit & Loss Account.
xiv. Taxation: Current tax is measured at the amount expected to be
paid to the tax authorities in accordance with the provisions of local
Income tax as applicable to the financial year. Deferred income tax
reflect the impact of current year timing differences between taxable
income and accounting income of the year and reversal of timing
differences of earlier years. Deferred tax is measured based on the tax
rates and tax laws enacted or substantively enacted at the Balance
Sheet date. In case where the tax assessments have been completed but
the appeals are pending at various appeal for a, the tax payments have
been set-off against the provisions in the Balance Sheet. Appropriate
disclosures have been made towards contingent liabilities, if any.
xv. Provisions and Contingent Liabilities: A provision is recognized
when the Company has a present obligation as a result of a past event.
It is probable that an outflow of resources will be required to settle
the obligation, in respect of which reliable estimates can be made.
Provisions are not discounted to its present value and are determined
based on best estimates required to settle the obligation at the
Balance Sheet date. A disclosure for a contingent liability is made
when there is a possible obligation or a present obligation that may,
but probably will not, require an outflow of resources. Where there is
a possible or present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is required.
As per records of the Company, including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest the above shareholding represent both
legal and beneficial ownership of the shares.
Mar 31, 2011
I) Basis of Accounting :
The Financial statement have been prepared under the historical cost
convention on accrual basis in accordance with the Companies
(Accounting standards Rule,2006 issued under sub section (3C) of
section 211 of the Companies Act, 1956.
ii) Use of Estimates
The preparation of Financial statements requires the management of the
company to make estimates and assumptions that affect the reported
balance of Assets and Liabilites, revenue and expenses and disclosures
relating to the contigent liabilities. The management believes that the
estimates used in preparation of the financial statements are prudent
and reasonable. Future events could differ from these estimates. Any
revision of accouting estimates is recognised prospectively in the
current and future periods.
iii) Fixed Assets:
Fixed Assets are stated at their original cost of acquisition or
construction including incidental expenses related to acquisition and
installation of the conferred assets. When an asset is scrapped or
otherwise disposed off, the cost and related depreciation are removed
from the books of account and resultant profit or loss, if any, is
reflected in the Profit and Loss account.
iv) Depreciation:
Depreciation on fixed assets is provided on straight line method as per
Section 205 (2)(b) of the Companies Act, 1956 at the rates and in the
manner prescribed under Schedule XIV to the said Act. The software
which are an integral part of hardware and accordingly considered part
of computer.
v) Impairment of Assets:
The Company identifies impairable fixed assets based on cash generating
unit concept at the year-end in term of para 5 to 13 of AS-28 issued by
ICAI for the purpose of arriving at impairment loss thereon, if any,
being the difference between the book value and recoverable value of
relevant assets, Impairment loss when crystallized is charged against
revenue of the year.
vi) Investments:
Long term investments are stated at cost. Diminution in value, if any,
which is of a temporary nature, is not provided for. vii) Inventories:
a. Inventories comprise all costs of purchase, conversion and other
costs incurred in bringing the inventories to their present location
and condition.
b. Raw Materials, Stores & Spare Parts, Packing Materials, Finished
Goods and Work-in-Progress are valued at lower of cost and net
realisable value.
c. Cost ( net of Input tax credit availed ) of Raw Materials, Stores &
Spare Parts, Packing Materials & Finished Goods is determined on FIFO
basis.
d. Cost of Finished Goods and Work-in-Process is determined by taking
raw materials/packing materials cost (net of input tax credit availed),
labour and relevant appropriate overheads.
viii) Foreign currency transactions:
Transactions in foreign currencies are normally recorded at the
exchange rate prevailing on the date on which the transactions occur.
Outstanding balances of foreign currency monetary items are reported
using the period end rates. Exchange differences arising as a result of
the above are recognised as income or expense in the profit and loss
account.
ix) Sales:
Revenue from sales of goods is being recognized on accrual basis on
transfer of ownership to the customers. The sales is stated net of
trade discounts, excise duty, sales returns and sales taxes.
Revenue from rendering of services are recognized on completion of
service.
x) Leases:
Lease rentals are accounted on accrual basis in accordance with the
respective lease agreements.
xi) Deferred Revenue Expenditure, Expenditure relating to new marketing
divisions, the benefit of which accrues to the Company over a period of
years, are being treated as deferred revenue expenditure and written
off over a period of Ten years from the year subsequent to the year of
accurance.
xii) Retirement Benefits:
a. Contributions to the Provident Fund are made at a pre-determined
rate and charged to the Profit & Loss Account.
b. Liability towards Gratuity and Leave Encashment is provided on the
basis of actuarial determination. Liability towards Superannuation is
provided in accordance with the scheme administered by Life Insurance
Corporation of India.
xiii) Borrowing Costs:
Borrowing costs directly attributable to the acquisition or
construction of an asset are capitalized as part of the cost of that
asset, up to the date such assets are ready for their intended use.
Other borrowing/financing costs are charged to the Profit & Loss
Account.
xiv) Taxation
Current tax is measured at the amount expected to be paid to the tax
authorities in accordance with the provision of local Income tax as
applicable to the financial year.
Deferred income tax reflect the impact of current year timing
differences between taxable income and accounting income of the year
and reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates and tax laws enacted on substantively
enacted at the Balance Sheet date.
In case where the tax assessments have been completed but the appeals
are pending at various appeal for tax payments have been set-off
against the provisions in the Balance sheet. Appropriate disclosure
have been made towards contingent liabilities, if any.
xv) Provision and Contingent Liabilities
A provision is recognized when the Company has a present obligation as
a result of part event, it is probable that an outflow of resources
will be required to settle the obligation in respect of which a
reliable estimates can be made. Provisions are not discounted to its
present value and are determined based on best estimates required to
settle the obligation at the Balance Sheet date.
Mar 31, 2010
I) Basis of Accounting :
The Financial statement have been prepared under the historical cost
convention on accrual basis in accordance with the Companies
(Accounting standards Rule,2006 issued under sub section (3C) of
section 211 of the Companies Act, 1956.
ii) Use of Estimates :
The preparation of Financial statements requires the management of the
company to make estimates and assumptions that affect the reported
balance of Assets and Liabilites, revenue and expenses and disclosures
relating to the contigent liabilities. The management believes that the
estimates used in preparation of the financial statements are prudent
and reasonable. Future events could differ from these estimates. Any
revision of accouting estimates is recognised prospectively in the
current and future periods.
iii) Fixed Assets :
Fixed Assets are stated at their original cost of acquisition or
construction including incidental expenses related to acquisition and
installation of the conferned assets.
When an asset is scrapped or otherwise disposed off, the cost and
related depreciation are removed from the books of account and
resultant profit or loss, if any, is reflected in the Profit and Loss
account
iv) Depreciation :
Depreciation on fixed assets is provided on straight line method as per
Section 205 (2)(b) of the Companies Act,1956 at the rates and in the
manner prescribed under Schedule XIV to the said Act.
The software which are an integral part of hardware and accordingly
considered part of computer.
v) Impairment of Assets :
The Company identifies impairable fixed assets based on cash generating
unit concept at the year-end in term of para 5 to 13 of AS-28 issued by
ICAI for the purpose of arriving at impairment loss thereon, if any,
being the difference between the book value and recoverable value of
relevant assets, Impairment loss when crystallized is charged against
revenue of the year.
vi) Investments :
Long term investments are stated at cost. Diminution in value, if any,
which is of a temporary nature, is not provided for
vii) Inventories :
a. Inventories comprise all costs of purchase, conversion and other
costs incurred in bringing the inventories to their present location
and condition.
b. Raw Materials, Stores & Spare Parts, Packing Materials, Finished
Goods and Work-in-Progress are valued at lower of cost and net
realisable value.
c. Cost ( net of Input tax credit availed ) of Raw Materials, Stores &
Spare Parts, Packing Materials & Finished Goods is determined on FIFO
basis.
d. Cost of Finished Goods and Work-in-Process is determined by taking
raw material/packing material cost (net of input tax credit availed),
labour and relevant appropriate overheads.
viii) Foreign currency transactions :
Transactions in foreign currencies are normally recorded at the
exchange rate prevailing on the date on which the transactions occur.
Outstanding balances of foreign currency monetary items are reported
using the period end rates.
Non-monetary items carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of
the transaction and non-monetary items which are carried at fair value
or other similar valuation denominated in a foreign currency are
reported using the exchange rate that existed when the values were
determined.
Exchange differences arising as a result of the above are recognised as
income or expense in the profit and loss account
In respect of forward contract, the premium or discount on these
contracts is recognized as Income or Expenditure over the period of the
contracts. Any profit or loss arising on cancellation or renewal of
such contracts is recognized as income or expenses of the year.
ix) Sales :
Revenue from sales of goods is being recognized on accrual basis on
transfer of ownership to the customers. The sales is stated net of
trade discounts, excise duty, sales returns and sales taxes.
Revenue from rendering of services are recognized on completion of
service.
x) Leases :
Lease rentals are accounted on accrual basis in accordance with the
respective lease agreements.
xi) Deferred Revenue Expenditure :
Expenditure relating to new marketing divisions, the benefit of which
accrues to the Company over a period of number of years, are being
treated as deferred revenue expenditure and written off over a period
of Ten years from the year subsequent to the year of accurance
xii) Retirement Benefits :
a. Contributions to the Provident Fund are made at a pre-determined
rate and charged to the Profit & Loss Account.
b. Liability towards Gratuity and Leave Encashment is provided on the
basis of actuarial determination. Liability towards Superannuation is
provided in accordance with the scheme administered by Life Insurance
Corporation of India
xiii) Borrowing Costs :
Borrowing costs directly attributable to the acquisition or
construction of an asset are capitalized as part of the cost of that
asset, up to the date such assets are ready for their intended use.
Other borrowing/financing costs are charged to the Profit & Loss
Account
xiv) Taxation :
Current tax is measured at the amount expected to be paid to the tax
authorities in accordance with the provision of local Income tax as
applicable to the financial year.
Deferred income tax reflect the impact of current year timing
differences between taxable income and accounting income of the year
and reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates and tax laws enacted on substantively
enacted at the Balance Sheet date.
In case where the tax assessments have been completed but the appeals
are pending at various appeal for tax payments have been set-off
against the provisions in the Balance sheet.
Appropriate disclosure have been made towards contingent liabilities,
if any.
xv) Provision and Contingent Liabilities :
A provision is recognized when the Company has a present obligation as
a result of part event, it is probable that an outflow of resources
will be required to settle the obligation in respect of which a
reliable estimates can be made. Provisions are not discounted to its
present value and are determined based on best estimates required to
settle the obligation at the Balance Sheet date.
xvi) Earning per Share :
Basic earning 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.