Mar 31, 2015
A. Basis of preparation of Financial Statements
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 2013. to the extent applicable.
b. Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amount of income and expenses during the period. Any
differences between the actual results and the estimates are recognized
in the period in which the results are known / materialized.
c. Fixed Assets, Intangible Assets and Capital work-in-progress
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital work-in-progress comprises of the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
d. Depreciation
The Company follows the Written Down Value Method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to the Companies Act, 2013.
e. Investments
Trade investments are the investments made to enhance the Company's
business interests. Investments are either classified as current or
long-term based on Management's intention at the time of purchase.
Current investments are carried at the lower of cost and fair value of
each investment individually. Long term investments are carried at cost
less provisions recorded to recognize any decline, other than
temporary, in the carrying value of each investment.
f. Revenue Recognition
Significant items of Income and Expenditure are recognised on accrual
basis, except those with significant uncertainties. Interest - Revenue
is recognised on a time proportion basis taking into the account the
amount outstanding and rate applicable. Dividend income on investments
is accounted for when the right to receive the payment is established
by Balance Sheet date. Income on NPI is recognised on realisation.
g. Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit and Loss account for the year in
which the related service is rendered.
Post employment and other long term employee benefits are recognized as
an expense in the Profit and Loss Account for the year in which the
employee has rendered services. The expense is recognized at the
present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the Profit and
Loss Account.
h. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognised in the Profit & Loss Account in the year of change.
i. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss after tax for the period attributable to equity shareholders. 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 shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
j. Derivative Instruments
Derivative financial instruments are initially recorded at their fair
value on the date of the derivative transaction and are re- measured at
their fair value at subsequent Balance Sheet dates. Changes in the fair
value of derivatives are recorded in the Profit & Loss account.
k. Cash and cash equivalents
Cash and cash equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
l. Cash flow statement
Cash flows are reported using the indirect method, where by profit
before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated with
investing or financing cashflows. The cash flows from operating,
investing and financing activities of the Company are segregated.
Mar 31, 2014
A. Basis of preparation of Financial Statements
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amount of income and expenses during the period. Any
differences between the actual results and the estimates are recognized
in the period in which the results are known / materialized.
c. Fixed Assets, Intangible Assets and Capital work-in-progress
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital work-in-progress comprises of the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
d. Depreciation
The Company follows the Written Down Value Method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to the Companies Act, 1956.
e. Investments
Trade investments are the investments made to enhance the Company''s
business interests. Investments are either classified as current or
long-term based on Management''s intention at the time of purchase.
Current investments are carried at the lower of cost and fair value of
each investment individually. Long term investments are carried at cost
less provisions recorded to recognize any decline, other than
temporary, in the carrying value of each investment.
f. Revenue Recognition
Significant items of Income and Expenditure are recognised on accrual
basis, except those with significant uncertainties. Interest - Revenue
is recognised on a time proportion basis taking into the account the
amount outstanding and rate applicable.
Dividend income on investments is accounted for when the right to
receive the payment is established by Balance Sheet date. Income on
NPI is recognised on realisation.
g. Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit and Loss account for the year in
which the related service is rendered.
Post employment and other long term employee benefits are recognized as
an expense in the Profit and Loss Account for the year in which the
employee has rendered services. The expense is recognized at the
present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the Profit and
Loss Account.
h. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognised in the Profit & Loss Account in the year of change.
i. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss after tax for the period attributable to equity shareholders. 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 shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
j. Derivative Instruments
Derivative financial instruments are initially recorded at their fair
value on the date of the derivative transaction and are re- measured at
their fair value at subsequent Balance Sheet dates. Changes in the fair
value of derivatives are recorded in the Profit & Loss account.
k. Cash and cash equivalents
Cash and cash equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
l. Cash flow statement
Cash flows are reported using the indirect method, where by profit
before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated with
investing or financing cashflows. The cash flows from operating,
investing and financing activities of the Company are segregated.
Mar 31, 2013
A. Basis of preparation of Financial Statements
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amount of income and expenses during the period. Any
differences between the actual results and the estimates are recognized
in the period in which the results are known / materialized.
c. Fixed Assets, Intangible Assets and Capital Work-in-progress
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital Work-in-progress comprises of the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
d. Depreciation
The Company follows the Written Down Value Method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to the Companies Act, 1956.
e. Investments
Trade investments are the investments made to enhance the Company''s
business interests. Investments are either classified as current or
long-term based on Management''s intention at the time of purchase.
Current investments are carried at the lower of cost and fair value of
each investment individually. Long term investments are carried at cost
less provisions recorded to recognize any decline, other than
temporary, in the carrying value of each investment.
f. Revenue Recognition
Significant items of Income and Expenditure are recognized on accrual
basis, except those with significant uncertainties. Interest - Revenue
is recognized on a time proportion basis taking into the account the
amount outstanding and rate applicable.
Dividend income on investments is accounted for when the right to
receive the payment is established by Balance Sheet date.
Income on NPI is recognized on realization.
g. Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit and Loss Account for the year in
which the related service is rendered.
Post employment and other long term employee benefits are recognized as
an expense in the Profit and Loss Account for the year in which the
employee has rendered services. The expense is recognized at the
present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the Profit and
Loss Account.
h. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognized in the Profit & Loss Account in the year of change.
i. Earnings Per Share
Basic Earnings Per Share are calculated by dividing the net profit or
loss after tax for the period attributable to equity shareholders. 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 shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares. j.
Derivative Instruments
Derivative financial instruments are initially recorded at their fair
value on the date of the derivative transaction and are re-measured at
their fair value at subsequent Balance Sheet dates. Changes in the fair
value of derivatives are recorded in the Profit & Loss Account.
k. Cash and Cash Equivalents
Cash and Cash Equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
l. Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit
before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.
Mar 31, 2012
A. Basis of preparation of financial statements:
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates:
The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amount of income and expenses during the period. Any
differences between the actual results and the estimates are recognized
in the period in which the results are known / materialized.
c. Fixed assets, intangible assets and capital work-in-progress:
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital work-in-progress comprises of the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
d. Depreciation:
The Company follows the Written Down Value method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to the Companies Act, 1956.
e. Investments:
Trade investments are the investments made to enhance the CompanyRs.s
business interests. Investments are either classified as current or
long-term based on ManagementRs.s intention at the time of purchase.
Current investments are carried at the lower of cost and fair value of
each investment individually. Long term investments are carried at cost
less provisions recorded to recognize any decline, other than
temporary, in the carrying value of each investment.
f. Revenue Recognition:
Significant items of Income and Expenditure are recognized on accrual
basis, except those with significant uncertainties.
Interest - Revenue is recognized on a time proportion basis taking into
the account the amount outstanding and rate applicable
Dividend income on investments is accounted for when the right to
receive the payment is established by Balance Sheet date
Income on NPI is recognized on realization.
g. Employee Benefits:
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit and Loss account for the year in
which the related service is rendered.
Post employment and other long term employee benefits are recognized as
an expense in the Profit and Loss account for the year in which the
employee has rendered services. The expense is recognized at the
present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the Profit and
Loss account.
h. Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognized in the Profit & Loss account in the year of change.
i. Earnings Per Share:
Basic Earnings per share are calculated by dividing the net profit or
loss after tax for the period attributable to equity shareholders with
total number of equity shares. 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 shares
outstanding during the period are adjusted for the effects of all
dilutive potential equity shares. j. Derivative Instruments:
Derivative financial instruments are initially recorded at their fair
value on the date of the derivative transaction and are re-measured at
their fair value at subsequent Balance Sheet dates. Changes in the fair
value of derivatives are recorded in the Profit & Loss account.
k. Cash and cash equivalents:
Cash and cash equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
l. Cash flow statement:
Cash flows are reported using the indirect method, whereby profit
before tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.
Mar 31, 2010
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP) which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act 1956, to the extent applicable.
B. Fixed Assets
Fixed Assets are stated at cost of acquisition, Less accumulated
depreciation and impairment loss,if any
C. Depreciation
The Company follows the written down value method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to Companies Act, 1956.
D. Investments
Long Term investments are stated at cost after providing for any
diminution in value, if such demunution is of permanent nature.
Current Investments are stated at lower of cost or market value.
E. Revenue Recognition
Significant items of Income and expenditure are recognised on Accrual
basis, except those with
significant uncertainities.
Income on NPI is recognised on realisation.
F. Employee Benfits
Short-term employee benfits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is render.
Post employment and other long term employee benefits are recognized as
an expense in the profit and loss account for the year in which the
employee has render services. The expense is recognized at the present
value of the amount payable determined using actuarial valuation
techniques. Actuarial gains and loss in respect of post employment and
other long term benefits are charged to the profit and loss account.
G. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benfits admissable under the provisions of the Income tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on balance sheet date. The
effect of deferred tax asset & liabilities of a charge in tax rates is
recognised in the profit & loss account in the year of change.