Mar 31, 2015
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisions of the Companies Act, 1956.
(b) 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 revenue and expenses during the reporting period. Difference
between-the actual and estimates are recognized in the period in which
the results are known/materialized.
(c) SALES
Sale of goods are recognized when risks and rewards of ownership of the
products are passed on to the customers which is generally on dispatch
of goods. Service revenue is recognized as per terms of contract. Sales
include amount recovered towards Trade Discounts and are net of
returns.
(d) OTHER INCOME:
Other incomes are accounted on accrual basis.
(e) FIXED ASSETS AND DEPRECIATION
Fixed Assets are stated at original cost including incidental expenses
related to acquisition and installation less accumulated depreciation.
Depreciation on fixed assets is calculated on written down value in the
manner and at the rates as per schedule xiv of the Companies Act, 1956.
(f) LEASEHOLD LAND:
The cost of leasehold land is amortized over the un-expired period of
the lease.
(g) INVENTORIES:
Inventories are valued at cost or net realizable value, whichever is
lower.
(g) INVESTMENTS:
Investments are stated at cost.
(h) EMPLOYEE BENEFITS:
All employee benefits payable wholly within twelve months of rendering
the service are classified as short term employee benefits. Benefits
such as salaries, wages, performance incentives, paid annual leave,
bonus, leave travel assistance and medical allowance etc. recognized as
actual amounts due in which the employee renders the related services.
(i) FOREIGN CURRENCY TRANSACTIONS:
All foreign currency transactions have been accounted at the rate
prevailing on the date of transaction. All outstanding foreign currency
transactions are valued at the appropriate exchange rate at the close
of financial year. The loss or gain due to fluctuations of exchange
rates is charged to the Profit and Loss Account except those relating
to acquisition of fixed assets which are adjusted to the cost of
assets.
(j) TAXATION:
Current tax is determined as the amount of tax payable to the taxation
authorities is respect of taxable income for the period. Deferred tax
is recognized, subject to the consideration of prudence, on timing
difference being differences between taxable income and accounting
income, that originate on one period and are capable of reversal in one
or more subsequent periods.
(k) PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognized only when there is present obligation as a
result of past events and when a reliable estimate of the amount of the
obligation can be made. Contingent liabilities disclosed for:-
Possible obligation which will be confirmed only by future events not
wholly within the control of the company, or
Present obligations arising from past events where it is not probable
that an outflow of resources will be required to settle the obligation
or a reliable estimate of the amount of obligation cannot be made.
Contingent assets are not recognized in the financial statements, since
this may result in recognition if Income that may never be realized.
(l) PROVISION FOR CURRENT AND DEFERRED TAX
Provision for current tax is made on the basis of taxable income for
the current accounting year and in accordance with the provisions of
the Income Tax Act., 1961.
Deferred tax is recognized on timing difference between book profits
and taxable income for the year.
Mar 31, 2014
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisionsoftheCompaniesAct, 1956.
(b) 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 revenue and expenses during the reporting period. Difference
between the actual and estimates are recognized in the period in which
the results are known/materialized.
(c) SALES
Sale of goods are recognized when risks and rewards of ownership of the
products are passedon to the customers which is generally on dispatch
of goods. Service revenue is recognized as per terms of contract. Sales
include amount recovered towardsTrade Discounts and are netofreturns.
(d) OTHER INCOME:
Other incomes are accountedonaccrual basis.
(e) FIXED ASSETS AND DEPRECIATION
Fixed Assets are stated at original cost including incidental expenses
related to acquisition and installation less accumulated depreciation.
Depreciation on fixed assets is calculated on written down value in the
manner and at the rates as per schedule xivofthe CompaniesAct, 1956.
(f) LEASE HOLDLAND:
The cost of lease hold and is amortized over the un-expired period of
the lease.
(g) INVENTORIES:
Inventories are valued at cost or net realizable value, whichever is
lower.
(g) INVESTMENTS:
Investments are stated atcost.
(h) EMPLOYEE BENEFITS:
All employee benefits payable wholly within twelve months of rendering
the service are classified as short term employee benefits. Benefits
such as salaries, wages, performance incentives, paid annual leave,
bonus, leave travel assistance and medical allowance etc. recognized as
actual amounts dueinwhich the employee renders the related services.
(i) FOREIGN CURRENCY TRANSACTIONS:
All foreign currency transactions have been accounted at the rate
prevailing on the date of transaction. All outstanding foreign currency
transactions are valued at the appropriate exchange rate at the close
of financial year. The loss or gain due to fluctuations of exchange
rates is charged to the Profit and LossAccount except those relating to
acquisition of fixed assets which are adjusted to the cost of assets.
(j) TAXATION:
Current tax is determined as the amount of tax payable to the taxation
authorities is respect of taxable income for the period. Deferred tax
is recognized, subject to the consideration of prudence, on timing
difference being differences between taxable income and accounting
income, that originate on one period and are capable of reversal in one
or more subsequent periods.
(k) PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognized only when there is present obligationas a
resultof past events and when a reliable estimate of the amount of the
obligation can be made. Contingent liabilities disclosed for:- Possible
obligation which will be confirmed only by future events not wholly
within the control of the company, or Present obligations arising from
past events where it is not probable that an outflow of resources will
be required to settle the obligation or a reliable estimate of the
amount of obligation cannot be made. Contingent assets are not
recognized in the financial statements, since this may result in
recognition if Income that may never be realized.
(l) PROVISION FOR CURRENT AND DEFERRED TAX
Provision for current tax is made on the basis of taxable income for
the current accounting year and in accordance with the provisionsofthe
IncomeTaxAct.,1961.
Deferred tax is recognized on timing difference between book profits
and taxable income for the year.
Mar 31, 2012
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisions of the Companies Act, 1956.
(b) 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 revenue and expenses during the reporting period. Difference
between the actual and estimates are recognized in the period in which
the results are known/materialized.
(c) SALES
Sale of goods are recognized when risks and rewards of ownership of the
products are passed on to the customers which is generally on dispatch
of goods. Service revenue is recognized as per terms of contract. Sales
include amount recovered towards Trade Discounts and are net of
returns.
(d) OTHER INCOME:
Other incomes are accounted on accrual basis.
(e) FIXED ASSETS AND DEPRECIATION
Fixed Assets are stated at original cost including incidental expenses
related to acquisition and installation less accumulated depreciation.
Depreciation on fixed assets is calculated on written down value in the
manner and at the rates as per schedule xiv of the Companies Act, 1956.
(f) LEASEHOLD LAND:
The cost of leasehold land is amortized over the un-expired period of
the lease.
(g) INVENTORIES:
Inventories are valued at cost or net realizable value, whichever is
lower.
(h) EMPLOYEE BENEFITS:
All employee benefits payable wholly within twelve months of rendering
the service are classified as short term employee benefits. Benefits
such as salaries, wages, performance incentives, paid annual leave,
bonus, leave travel assistance and medical allowance etc., recognized as
actual amounts due in which the employee renders the related services.
(i) FOREIGN CURRENCY TRANSACTIONS:
All foreign currency transactions have been accounted at the rate
prevailing on the date of transaction. All outstanding foreign currency
transactions are valued at the appropriate exchange rate at the close
of financial year. The loss or gain due to fluctuations of exchange
rates is charged to the Profit and Loss Account except those relating
to acquisition of fixed assets which are adjusted to the cost of
assets.
(j) TAXATION:
Current tax is determined as the amount of tax payable to the taxation
authorities is respect of taxable income for the period. Deferred tax
is recognized, subject to the consideration of prudence, on timing
difference being differences between taxable income and accounting
income, that originate on one period and are capable of reversal in one
or more subsequent periods.
(k) PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions are recognized only when there is present obligation as a
result of past events and when a reliable estimate of the amount of the
obligation can be made.
Contingent liabilities disclosed for:
Possible obligation which will be confirmed only by future events not
wholly within the control of the company, or
Present obligations arising from past events where it is not probable
that an outflow of resources will be required to settle the obligation
or a reliable estimate of the amount of obligation cannot be made.
Contingent assets are not recognized in the financial statements, since
this may result in recognition if Income that may never be realized.
(l) PROVISION FOR CURRENT AND DEFERRED TAX
Provision for current tax is made on the basis of taxable income for
the current accounting year and in accordance with the provisions of
the Income Tax Act., 1961.
Deferred tax is recognized on timing difference between book profits
and taxable income for the year.
Mar 31, 2011
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisions of the Companies Act, 1956.
(b) FIXED ASSETS AND DEPRECIATION
Fixed Assets are stated at original cost including incidental expenses
related to acquisition and installation less accumulated depreciation.
Depreciation on fixed assets is calculated on written down value in the
manner and at the rates as per schedule xiv of the Companies Act, 1956.
(c) LEASEHOLD LAND:
The cost of leasehold land is amortized over the un-expired period of
the lease.
(d) OTHER INCOME:
Other incomes are accounted on accrual basis.
(e) INVENTORIES:
Inventories are valued at cost or net realizable value, whichever is
lower.
(f) SALES:
Sales are recorded net of Sales Tax, Rebates and Trade Discounts.
(g) INVESTMENTS:
Investments are stated at cost.
(h) PROVISION FOR CURRENT AND DEFERRED TAX
Provision for current tax is made on the basis of taxable income for
the current accounting year and ir accordance with the provisions of
the Income Tax Act, 1961.
Deferred tax is recognized on timing difference between book profits
and taxable income for the year.
(i) FOREIGN CURRENCYTRANSACTIONS:
All foreign currency transactions have been accounted at the rate
prevailing on the date of transaction. All outstanding foreign
currency transactions are valued at the appropriate exchange rate at
the close of financial year. The loss or gain due to fluctuations of
exchange rates is charged to the Profit and Loss Account except those
relating to acquisition of fixed assets which are adjusted to the cost
of assets
Mar 31, 2010
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisions of the Companies Act, 1956.
(b) FIXED ASSETS AND DEPRECIATION
Fixed Assets are stated at original cost including incidental expenses
related to acquisition and installation less accumulated depreciation.
Depreciation on fixed assets is calculated on written down value in the
manner and at the rates as per schedule xiv of the Companies Act, 1956.
(c) LEASEHOLD LAND:
The cost of leasehold land is amortized over the un-expired period of
the lease.
(d) OTHER INCOME:
Other incomes are accounted on accrual basis.
(e) INVENTORIES:
Inventories are valued at cost or net realizable value, whichever is
lower.
(f) SALES:
Sales are recorded net of Sales Tax, Rebates and Trade Discounts.
(g) INVESTMENTS:
I nvestments are stated at cost.
(h) PROVISION FOR CURRENT AND DEFERRED TAX
Provision for current tax is made on the basis of taxable income for
the current accounting year and in accordance with the provisions of
the Income Tax Act, 1961.
Deferred tax is recognized on timing difference between book profits
and taxable income for the year.
(i) FOREIGN CURRENCYTRANSACTIONS:
All foreign currency transactions have been accounted at the rate
prevailing on the date of transaction. All outstanding foreign
currency transactions are valued at the appropriate exchange rate at
the close of financial year. The loss or gain due to fluctuations of
exchange rates is charged to the Profit and Loss Account except those
relating to acquisition of fixed assets which are adjusted to the cost
of assets.