Mar 31, 2014
(1) Basis of Accounting
Financial statements are prepared under the historical cost convention,
in accordance with generally accepted Accounting Standards applicable
in India and the provisions of Companies Act, 1956. The Company follows
the mercantile system of accounting and recognizes income and
expenditure on accrual basis except in case of significant
uncertainties relating to income.
(2) Revenue Recognition
Sales are recognized on completion of sale of goods and recorded gross
of tax but net of trade discounts & rebates.
(3) Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation. The
Company capitalizes all costs relating to the acquisitions and
installations of fixed assets. Direct financing cost, if any, incurred
during construction period in respect of major projects is also
capitalized.
(4) Depreciation
Depreciation is provided on Straight Line Method on all Fixed Assets at
the rates prescribed in Schedule XIV of the Companies Act,1956. In
respect of assets acquired during the financial year, depreciation is
provided on Pro-rata basis with reference to the period each assets was
put to use during financial year. During the year Depreciation has been
charged on the basis of single shift in view of the plant operations.
(5) Investments Investments are valued at cost.
(6) Inventories
a) All inventories are valued at cost or market value whichever is
lower
b) For arriving cost of Finished Goods and stock in process all
production expenses and depreciation except financing cost and
marketing cost are considered.
c) In respect of raw materials, stores and spares cost is computed on
weighted average basis.
d) Fixed overhead are allocated for inclusion in the cost of conversion
on the basis of normal level of production capacity. Conversion cost is
apportioned to the finished goods in process on the basis of estimated
values and proportions arrived at by the cost sheet of the last month
of financial period in which production had taken place.
(7) Foreign Currency Transactions
There were no foreign currency transactions during the year.
(8) Retirement Benefits
a) Liabilities in respect of gratuity and leave encashment are provided
on the basis of actual calculation.
b) Contribution to Employees Provident Fund Scheme are paid to the
Regional Commissioner of Provident Fund
Mar 31, 2013
(1) Basis of Accounting
Financial statements are prepared under the historical cost convention,
in accordance with generally accepted Accounting Standards applicable
in India and the provisions of Companies Act, 1956.
The Company follows the mercantile system of accounting and recognize
income and expenditure on accrual basis except in case of significant
uncertainties relating to income.
(2) Revenue Recognition
(i) Sales are recognized on completion of sale of goods and recorded
gross of excise but net of trade discounts & rebates.
(ii) Export entitlement under the duty entitlement pass book (DEPB)
Scheme are recognized in the Profit & Loss Account on the basis of
dispatch.
(3) Fixed Assets
Fixed Assets are stated at cost les accumulated depreciation. The
Company capitalizes all costs relating to the acquisitions and
installations of fixed assets. Direct financing cost, if any, incurred
during construction period in respect of major projects is also
capitalize.
(4) Depreciation
Depreciation is provided on Straight Line Method on all Fixed Assets at
the rates prescribed in Schedule XrV of the Companies Act, 1956. In
respect of assets acquired during the financial year, depreciation is
provided on Pro-rata basis with reference to the period each asset was
put to use during financial year.
(5) Investments Investments are valued at cost.
(6) Inventories
(i) All inventories are valued at cost or market value whichever is
lower.
(ii) For arriving cost of Finished Goods and stock in process all
production expenses and depreciation except financing cost and
marketing cost are considered.
(iii) In respect of raw materials, stores and spares cost is computed
on weighted average basis.
(iv) Fixed overhead are allocated for inclusion in the cost of
conversion on the basis of normal level of production capacity.
Conversion cost is apportioned to the finished goods in process on the
basis of estimated values and proportions arrived at by the cost sheet
of the last month of financial period in which production had taken
place.
(7) Foreign Currency Transactions
Foreign Currency Transactions are accounted at exchange rates
prevailing on the date of transaction. Any exchange variation realized
in subsequent Financial Year is shown separately on realization.
(8) Retirement Benefits
(i) Liabilities in respect of gratuity and leave encashment are
provided on the basis of actual calculation.
(ii) Contribution to Employees Provident Fund Scheme are payable to the
Regional Commissioner of Provident Fund.
Mar 31, 2012
(1) Basis of Accounting
Financial statements are prepared under the historical cost convention,
in accordance with generally accepted Accounting Standards applicable
in India and the provisions of Companies Act, 1956.
The Company follows the mercantile system of accounting and recognize
income and expenditure on accrual basis except in case of significant
uncertainties relating to income.
(2) Revenue Recognisation
(i) Sales are recognized on completion of sale of goods and recorded
gross of excise but net of trade discounts & rebates.
(ii) Export entitlement under the duty entitlement pass book(DEPB)
Scheme are recognized in the Profit & Loss Account on the basis of
dispatch.
(3) Fixed Assets
Fixed Assets are stated at cost les accumulated depreciation. The
Company capitalizes all costs relating to the acquisitions and
installations of fixed assets. Direct financing cost, if any, incurred
during construction period in respect ofmajor projects is also
capitalize.
(4) Depreciation
Depreciation Is provided on Straight Line Method on all Fixed Assets at
the rates prescribed in Schedule XIV of the Companies Act,1956. In
respect of assets acquired during the financial year, depreciation is
provided on Pro-rata basis with reference to the period each assets was
put to use during financial year.
(5) Investments
Investments are valued at cost.
(6) Inventories
(I) All inventories are valued at cost or market value whichever is
lower
(II) For arriving cost of Finished Goods and stock in process all
production expenses and depreciation except financing cost and
marketing cost are considered.
(III) In respect of raw materials, stores and spares cost is computed
on weighted average basis.
(IV) Fixed overhead are allocated for inclusion in the cost of
conversion on the basis of normal level of production capacity.
Conversion cost is apportioned to the finished goods in process on the
basis of estimated values and proportions arrived at by the cost sheet
of the last month of financial period in which production had taken
place.
(7) Foreign Currency Transactions
Foreign Currency Transactions are accounted at exchange rates
prevailing on the date of transaction. Any exchange variation realized
in subsequent Financial Year is shown separately on realization.
(8) Retirement Benefits
(i) Liabilities in respect of gratuity and leave encashment are
provided on the basis of actual calculation.
(ii) Contribution to Employees Provident Fund Scheme are payable to the
Regional Commissioner of Provident Fund.
Mar 31, 2010
(1) Basis of Accounting
Financial statements are prepared under the historical cost convention,
in accordance with generally accepted Accounting Standards applicable
in India and the provisions of Companies Act, 1956 The Company follows
the mercantile system of accounting and recognizes income and
expenditure on accrual basis except in case of significant
uncertainties relating to income.
(2) Revenue Recognition
(i) Sales are recognized on completion of sale of goods and are
recorded gross of excise but net of trade discounts & rebates.
(ii) Export entitlements under the duty entitlement pass book (DEPB)
Scheme are recognized in the Profit & Loss Account on the basis of
despatch.
(3) Fixed Assets
Fixed Assets are recorded at cost. The Company capitalizes all costs
relating to acquisitions and installations of fixed assets. Direct
financing cost, if any, incurred during construction period in respect
of major projects is also capitalized.
(4) Depreciation
Depreciation is provided on straight line method on all Fixed Assets at
the rates prescribed in Schedule XIV of the Companies Act, 1956. In
respect of assets acquired during the financial year, depreciation is
provided on Pro-rata basis with reference to the period each assets was
put to use during the financial year.
(5) Investments
Investments are valued at cost.
(6) Inventories
(i) All inventories are valued at cost or market value whichever is
lower.
(ii) For arriving cost of Finished Goods and stock in process all
production expenses and depreciation except financing and marketing
cost are considered. (iii) In respect of raw materials, stores and
spares cost is computed on weighted average basis. (iv) Fixed over
-heads are allocated for inclusion in the cost of conversion on the
basis of normal levels of production capacity. Conversion cost is
apportioned to finished goods in process on the basis of estimated
values and proportions arrived at by the cost sheet of the last
month of financial period in which production had taken place.
(7) Foreign Currency Transactions
Foreign currency transactions are accounted at exchange rates
prevailing on the date of the transaction. Any exchange variation
realized in subsequent Financial Year is shown separately on
realization.
(8) Retirement Benefits
(i) Liabilities in respect of gratuity and leave encashment are
provided on the basis of actual calculations.
(ii) Contributions to Employees Provident Fund Scheme are paid to
Regional Commissioner of Provident Fund.